BC Posts Q2 Profit

BC Gas, Canada's third-biggest pipeline company, has posted a profit for the second quarter, as it lost less money selling natural gas after buying utilities from Duke Energy Corp.

Net income was C$1.1 million ($695,000), or 3 cents a share, compared with a loss of C$3.1 million, or 8 cents, a year earlier. Revenue rose 1.6 percent to C$351.2 million from C$345.5 million, the company said in a statement issued by Canada Newswire.

BC Gas had a loss of C$3 million from its gas-distribution business, compared with C$9.2 million a year ago. Earnings were helped by its Centra Gas utilities, which it bought from Duke for C$590 million in 2001. Canadian utilities normally have their lowest earnings in the second quarter because of mild weather.

The two Duke businesses gave BC Gas 70,000 more customers in southwestern British Columbia.

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&to=http://www.bcgas.com/bcgas/corporate/default.htm' target=_blank>BC Gaz

&to=http://www.duke-energy.com/decorp/content/Default.asp' target=_blank>Duke Energy

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Author`s name: Editorial Team