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Laclede Group overcomes warm winter, boosts earnings

Laclede Group overcomes warm winter, boosts earnings

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Laclede Group Inc., the owner of Missouri's largest natural gas utility, overcame one of the mildest winters on record to post a higher fiscal second-quarter profit.

Net income for the three months ended March 31 rose 6 percent to $29.7 million, or $1.32 a share, from $27.9 million, or $1.25 a share, for the same period last year, the St. Louis-based company said.

Sales fell more than a third to $358.2 million.

Earnings for the company's gas utility, Laclede Gas Co., fell slightly to $25.9 million as customers ran their furnaces less because of the warmer winter.

The company's wholesale natural gas marketing business more than made up the difference, more than doubling its profit to $3.8 million.

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