April 25, 2008 / 12:48 PM / in 10 years

TransCanada first-quarter profit soars 69 pct

OTTAWA (Reuters) - TransCanada Corp’s (TRP.TO) first-quarter profit rose 69 percent reflecting benefits from investments in key markets, the country’s biggest pipeline company said on Friday.

TransCanada, best known as the main operator of the national and Alberta natural gas pipeline systems, earned C$449 million ($440.2 million), or 83 Canadian cents a share, up from year-earlier C$265 million, or 52 Canadian cents share.

It said comparable earnings jumped to C$326 million, or 60 Canadian cents per share, from C$250 million, or 49 Canadian cents per share, in the year-ago quarter.

($1=$1.02 Canadian)

Reporting by Susan Taylor; Editing by Scott Anderson

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