May 6, 2014 2:44 pm

Nova Scotia Power parent Emera posts strong first-quarter results

Emissions rise from Nova Scotia Power's Cove Generating Station in Dartmouth on Feb. 5, 2007.

Andrew Vaughan/The Canadian Press

HALIFAX – Emera (TSX:EMA) is reporting strong first-quarter earnings that show it generated $202.8 million in profits in the first quarter of this year, $80 million more than the same period last year.

The Halifax-based energy company also says its operating revenues increased 65 per cent to $1.05 billion, compared with $638.1 million in the first quarter of 2013.

Earnings per share, including mark-to-market gains, were $1.43, up from 93 cents in the first quarter of last year.

Chris Huskilson, Emera’s president and CEO, says the company had a strong start to 2014, thanks in part to its success at securing $1.3 billion of debt financing for the Maritime Link project.

That development is being built to ship hydroelectricity to Nova Scotia from the Muskrat Falls project in Labrador.

© The Canadian Press, 2014

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