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US: Natural gas co earnings up after plans of $1B acquisition

By  |  February 5, 2013

Diversified natural gas holding company Laclede Group Inc has reported first-quarter profit rises in the wake of its announcement last December that it would buy gas utilities Missouri Gas Energy and New England Gas Co for $1.04 billion. According to reports, cooler weather and higher prices for infrastructure replacement both helped to increase profits for the company. Excluding Laclede’s pending acquisition, the gas group still reported gains; net income for the quarter ending December 31 increased to $25.6 million.

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