TORONTO, March 12 (Reuters) - Baytex Energy Trust BTE_u.TO said on Wednesday its fourth-quarter profit rose on the back of higher production levels and commodity prices and that it would increase its monthly distribution by 11 percent.
Baytex said it earned C$41.4 million ($41.8 million), or 48 Canadian cents a diluted unit, up from a year-earlier C$20 million, or 26 Canadian cents a diluted unit.
Cash flow, the money trusts use to pay distributions to their unitholders, rose to a record C$98.7 million, or C$1.10 per diluted unit, up from C$63.5 million, or 79 Canadian cents per diluted unit in the year-before quarter.
Baytex said it would raise its monthly distribution to 20 Canadian cents a unit from 18 Canadian cents per unit to unitholders of record on March 31, to be paid on April 15.
Revenues were C$193 million, up from C$135 million in the fourth quarter of 2006.
Production in the fourth quarter averaged 39,304 barrels of oil equivalent, up from 34,631.
Baytex said it was keeping its 2008 average production guidance of between 37,000 and 38,000 barrels of oil equivalent as severe cold weather in the first quarter and spring break-up conditions in the second quarter were expected to crimp production.
Baytex units were up 61 Canadian cents, or 2.9 percent, to C$21.91 at 10:00 a.m. on the Toronto Stock Exchange. ($1=$0.99 Canadian) (Reporting by John McCrank, editing by Mario Di Simine)