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Company News

Enbridge second-quarter profit more than triples

Aug 3 (Reuters) - Enbridge Inc , North America’s largest pipeline operator, on Thursday reported a quarterly profit that more than tripled, helped partly by its purchase of natural gas pipeline company Spectra Energy Corp.

Earnings attributable to shareholders rose to C$919 million ($729.77 million), or 56 Canadian cents per share, in the second quarter ended June 30, from C$301 million, or 33 Canadian cents per share, a year earlier.

Enbridge bought Spectra for $28 billion in a deal that closed on Feb. 27. ($1 = 1.2593 Canadian dollars) (Reporting by Ahmed Farhatha in Bengaluru and Ethan Lou in Calgary)

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