February 24, 2017 / 11:21 AM / in 5 months

Canada's Husky Energy posts profit on impairment charge reversal

1 Min Read

Feb 24 (Reuters) - Canadian oil producer Husky Energy Inc posted a fourth-quarter profit, compared with a year-earlier loss, helped by a gain on asset sales and the reversal of a C$202 million ($154 million) impairment charge.

The company reported a profit of C$186 million, or 19 Canadian cents per share, for the quarter ended Dec. 31. Excluding the one-time items, Husky posted a loss of $6 million.

Husky recorded a loss of C$69 million, or 9 Canadian cents per share, in the year-earlier quarter.

The company's average production fell 8.4 percent to 327,000 barrels of oil equivalent per day (boepd) in the latest quarter. ($1 = 1.31) (Reporting by Muvija M in Bengaluru; Editing by Savio D'Souza)

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