Oil prices push Husky profit
Three-month TSX trading in Husky Oil
The first large Canadian energy company to report second-quarter results set records in revenue and profit.
Husky Energy Inc. reported that sales and operating revenue for the three months ended June 30 more than doubled to $7.20 billion from $3.16 billion in 2007. That was a record, president and CEO John C.S. Lau said in a release Wednesday.
Profit was $1.36 billion ($1.61 a diluted share), compared with $721 million (85 cents) a year earlier.
Lau said the results came in a "strong commodity price environment." Oil recently touched an all-time high of $147 US a barrel, although it closed Wednesday at $124.44.
Husky's first half profit was $2.3 billion ($2.65 a diluted share), compared with $1.4 billion ($1.61 a share) a year earlier.
Sales and operating revenues were $12.3 billion, compared with $6.4 billion.
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