Husky full-year numbers down

Still pleased: CEO Asim Ghosh pointed to 'significant progress' at Husky

Canadian independent Husky Energy saw its full-year profit drop due to declining production but ended 2012 strongly.

Net earnings for the year to the end of December were C$2 billion (US$2 billion) as compared with the year-ago sum of C$2.2 billion, the company said on Wednesday.

Average production for the 12 months also slipped from 312,500 barrels of oil equivalent per day to 301,500 boepd.

Cash from from operations was also down slightly from C$5.2 billion to C$5 billion.

It was a different story for the fourth quarter, however, with net earnings jumping from C$408 million to C$474 million and cash flow from operations up from C$1.2 billion to C$1.4 billion.

Average…

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