Imperial's Profit Rises 55% on Oil Prices, Tax Gain (Update2)
Aug. 3 (Bloomberg) -- Imperial Oil Ltd., Canada's largest oil company, said second-quarter net income rose 55 percent on higher oil prices and lower taxes.
Profit rose to C$837 million ($743.2 million), or 85 cents a share, from C$539 million, or 52 cents, a year earlier, the Calgary-based company said in a statement. Tax changes in Canada increased earnings by about C$110 million from a year earlier, Imperial said.
It was the second-highest quarterly profit in the company's 126-year history, trailing only the C$1.02 billion earned in the fourth quarter of last year, spokesman Richard O'Farrell said today in a telephone interview.
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Profit rose to C$837 million ($743.2 million), or 85 cents a share, from C$539 million, or 52 cents, a year earlier, the Calgary-based company said in a statement. Tax changes in Canada increased earnings by about C$110 million from a year earlier, Imperial said.
It was the second-highest quarterly profit in the company's 126-year history, trailing only the C$1.02 billion earned in the fourth quarter of last year, spokesman Richard O'Farrell said today in a telephone interview.
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posted by anthony m, at Thursday, August 03, 2006
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