April 30, 2010 / 11:30 AM / 7 years ago

UPDATE 1-Fortis first-quarter profit rises

* Q1 EPS C$0.56 Vs C$0.52 a yr-earlier

* Stronger results driven by its Terasen Gas subsidiary

TORONTO, April 30 (Reuters) - Canadian utility company Fortis Inc (FTS.TO) said on Friday its first-quarter earnings rose, driven primarily by its Terasen Gas subsidiary.

Net income in the quarter ended March 31 rose to C$100 million, or 56 Canadian cents a diluted share, up from C$92 million, or 52 cents a share, a year earlier.

Fortis is one of the largest investor-owned distribution utility companies in Canada, with over 2 million customers.

Its regulated holdings include electric utilities in five Canadian provinces and three Caribbean countries and a natural gas utility in British Columbia. It also owns nonregulated generation assets across Canada, in New York state and in Belize. (Reporting by Euan Rocha, editing by Gerald E. McCormick)

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