Crew Energy Q2 Net Profit Up 48%

Crew Energy CWEGF reported a 48% surge in its second-quarter profit. Crew Energy's quarterly net income climbed to C$24.1 million, or 20 Canadian cents a share, versus C$16.3 million, or 19 Canadian cents a share, in the year-ago period. Its petroleum and natural gas sales jumped 42% to C$99.9 million. However, analysts were expecting a loss of 7 Canadian cents a share on revenue of C$108.7 million. Crew Energy's total production jumped 72% in the quarter. Crew Energy shares closed at $6.91 on Friday.