February 11, 2011 / 6:43 PM / in 7 years

UPDATE 1-Emera posts higher Q4 profit

Feb 11 (Reuters) - * Q4 EPS C$0.35 vs C$0.33

* Unit NSPI earnings up 19 pct

Feb 11 (Reuters) - Canada’s Emera Inc , which owns electric utilities, posted higher quarterly earnings, helped by stronger performance across it units.

October-December profit was C$39.6 million ($39.7 million), or 35 Canadian cents a share, compared with C$37.5 million, or 33 Canadian cents a share, last year.

Analysts on average had expected earnings of 29 Canadian cents a share in the fourth quarter, according to Thomson Reuters I/B/E/S.

Emera unit Nova Scotia Power Inc’s earnings rose 19 percent to C$20.7 million, while its another subsidiary Bangor Hydro Electric Co’s profit rose to $7.8 million from C$7.0 million.

The Halifax, Nova Scotia-based company’s shares were trading down 2 percent at C$30.41 in afternoon trading on Friday on the Toronto Stock Exchange. ($1 = 0.996 Canadian Dollars) (Reporting by Aftab Ahmed in Bangalore; Editing by Maju Samuel) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 58 00 ; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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