Calgary, Alta.--14 May 2003--During the AGM for the ATCO Group, held in Calgary on Wednesday, Nancy Southern (president & CEO) addresses the meeting. digital photo by Larry MacDougalLarry MacDougal/The Canadian Press
Atco Ltd. , a Calgary-based energy services company, reports its net profits fell in the latest quarter but revenues soared 24 per cent.
The company said Friday it posted net earnings of $54 million or 93 cents a share for the three months ended Sept. 30.
That compared with $60 million or $1.03 per share a year earlier.
Revenue jumped 24 per cent to $957 million from $772 million.
Atco said its adjusted earnings — which is said more accurately reflect its operations — jumped to $78 million or $1.36 a share from $63 million.
Atco has more than 8,000 employees and assets of about $12 billion.
The company operates pipelines, natural gas and electricity distribution companies as well as power generation and natural gas processing and storage businesses. It also makes and sells oilfield housing and other services.