MONTREAL – Hydro-Québec saw a $96-million increase in profits in 2011 despite a $114-million drop in gross revenue from energy exports, the utility said Wednesday.

Net income for the year was $2.61 billion, up from almost $2.52 billion in 2010.

“Hydro-Québec’s profitability grew significantly in 2011,” CEO Thierry Vandal said. “We are very proud of this performance, which is the result of rigorous management and the commitment of all our employees.”

Read the rest

Advertisements