Husky Energy swings to profit on asset sale gains

Published 2016-10-27, 06:13 a/m
© Reuters.  Husky Energy swings to profit on asset sale gains
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Oct 27 (Reuters) - Husky Energy Inc HSE.TO , Canada's No. 3 integrated oil company, swung to a quarterly profit as it recorded nearly C$1.5 billion ($1.12 billion) in gains related to asset sales.

The company reported a profit of C$1.39 billion, or C$1.37 per share, for the third quarter ended Sept. 30, compared with a loss of C$4.09 billion, or C$4.19 per share, a year earlier. Calgary, Alberta-based company said on Wednesday its chief executive, Asim Ghosh, will retire on Dec. 5 after seven years at the helm.

Rob Peabody, who has been Husky's chief operating officer since 2006, was named the new CEO. ($1 = 1.3371 Canadian dollars)

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