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Company News

Enbridge fourth-quarter profit falls

Feb 16 (Reuters) - Canada’s largest pipeline operator Enbridge Inc reported a smaller quarterly profit on Friday as it took a charge in its gas transmission and midstream business.

The Calgary-based company’s net income fell to C$207 million, or 13 Canadian cents per share, in the fourth quarter ended Dec. 31, from C$365 million, or 39 Canadian cents per share, a year earlier.

Enbridge said it took a C$4.55 billion charge related to the write-down of some assets in the gas transmission and midstream business. (Reporting by Akshara P in Bengaluru; Editing by Shounak Dasgupta)

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