TransAlta losses grow

TransAlta losses grow

TransAlta Corp. reported a loss of $86 million in its latest quarter compared with a loss of $27 million a year ago.

The power producer says the loss amounted to 30 cents per share for the quarter ended Sept. 30, compared with a loss of nine cents per share in the same quarter last year.

TransAlta says the bigger loss was driven by lower operating income and lower finance lease income, offset by an increase in tax recovery.

Revenue for what was TransAlta’s third quarter amounted to $593 million, up from $588 million a year ago.

Funds from operations totalled 71 cents per share, up from 68 cents per share in the third quarter last year.

TransAlta owns electrical power generation assets in Canada, the United States and Australia.

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