February 1, 2008 / 2:12 PM / 10 years ago

TransAlta swings to fourth-quarter profit

OTTAWA, Feb 1 (Reuters) - TransAlta Corp (TA.TO), Canada’s largest investor-owned power company, said on Friday it swung to a fourth-quarter net profit as it posted a bigger gross margin from its generation business.

    TransAlta said net income was C$129.5 million, or 64 Canadian cents a share, compared to a loss of C$146 million, or 72 Canadian cents in the fourth quarter of 2006.

    Comparable earnings, excluding most one-time items, rose to C$102.6 million, or 51 Canadian cents a share, from C$92 million, or 46 Canadian cents a share, TransAlta said.

    $1=$1.00 Canadian Reporting by Susan Taylor; Editing by Renato Andrade

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