Husky Profit Rises on Refining Margin as Production Falls
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Husky Energy Inc., the integrated oil and natural gas producer controlled by Hong Kong billionaire Li Ka-Shing, said third-quarter profit rose as increased refining activity offset production cuts.
Net income rose to C$526 million ($526.2 million), or 53 cents a share, from $C521 million, or 53 cents, a year earlier, the Calgary-based company said in a statement on its website today. Adjusted for after-tax gains on the sale and exchange of assets, per-share profit was 12 cents more than the 40-cent average of 11 analysts’ estimates compiled by Bloomberg.