July 27, 2010 / 2:05 PM / in 7 years

REFILE-UPDATE 1-Enbridge Income Fund Q2 net falls on higher cost

(Refiles to expand company name in headline)

* Q2 EPS C$0.04 vs C$0.10

* Rev up 4 pct

* Sees to finish Saskatchewan second phase in Q4 July 27 (Reuters) - Enbridge Income Fund ENF_u.TO posted a 56 percent drop in quarterly profit, hurt by restructuring costs and higher operating costs on the Virden pipeline system.

Enbridge expects to complete the second phase of expansion of its Saskatchewan pipeline system in the fourth quarter of 2010.

For the second quarter, the Canadian trust earned C$1.5 million, or 4 Canadian cents per unit, compared with C$3.4 million, or 10 Canadian cents per unit, a year ago.

Revenue for the quarter rose 4 percent to C$80.3 million.

Analysts on average expected the company to earn 18 Canadian cents per unit, according to Thomson Reuters I/B/E/S.

Units of the income fund were trading down a percent at C$14.52 early Tuesday on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Don Sebastian)

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