Fortis Inc. reports a slight Q4 profit increase to $396M, citing growth in Central Hudson operations.

Electric and gas utility Fortis Inc. reported a Q4 profit of $396 million, up from $381 million the previous year, marking a slight increase to 79 cents per share from 78 cents. The growth is attributed to rate base expansion and new customer rates at its Central Hudson operations in New York. Revenue rose to $2.95 billion from $2.89 billion. Fortis serves customers in five Canadian provinces, ten U.S. states, and three Caribbean countries.

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