Canadian Oil Sands Profit Falls as Crude Prices Slip
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Canadian Oil Sands Ltd., the largest partner in Syncrude Canada Ltd., said fourth-quarter profit fell on lower Canadian crude prices and foreign-exchange losses.
Net income declined to C$221 million ($221.5 million), or 46 cents a share, from C$232 million, or 48 cents, a year earlier, the Calgary-based company said in a statement today. Earnings-per-share were less than the 49 cent average of four analysts’ estimates compiled by Bloomberg.