February 10, 2011 / 12:31 PM / 7 years ago

UPDATE 1-Fortis posts higher Q4 profit on segment growth

Feb 10 (Reuters) - Canadian utility company Fortis Inc reported a 5 percent rise in quarterly profit, helped in part by strength at its Canadian regulated electric utilities segment.

For the fourth quarter, net profit rose to C$85 million, or 49 Canadian cents a share, from C$81 million, or 48 Canadian cents a share, a year ago.

Revenue at Fortis, which is one of the largest investor-owned distribution utility companies in Canada, rose about 2 percent to C$1.04 billion. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Maju Samuel)

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