The company’s growth in its income in the first half of 2008 is largely due to rate base growth which contributed C$0.5 million to net income. For the second quarter of 2008, the AltaGas Utility Group has reported a net loss of C$0.3 million or C$0.04 per share, compared to a net loss of C$0.5 million or C$0.07 per share for the second quarter of 2007.
The company’s revenue in the second quarter of 2008 increased to C$28.4 million, compared to C$22 million in the second quarter of 2007. Revenue for the first six months of 2008 was C$86.6 million, compared to C$77.7 million in the same period of 2007.
Patricia Newson, president and CEO of the AltaGas Utility Group, said: We are pleased with the continued growth in our franchise areas and the contribution our 2007 investment in Ikhil has made to our earnings. The utility group looks forward to the continued growth and expansion opportunities in all our operating areas.
