Summary Box: Duke Energy 4Q increased by 5 percent as cost cuts offset weak power demand
By APFriday, February 12, 2010
Summary Box: Duke Energy profit up on cost cuts
BOTTOM LINE: Duke Energy’s fourth-quarter profit rises as cost cuts offset continued weak demand for electricity from its four million customers in the Midwest and the Carolinas.
THE BUSINESS: Industrial demand not as bad during the quarter and showing signs of stabilizing after being down as much as 20 percent earlier in the year.
THE SOLUTION: After cutting expenses by $150 million last year, Duke says cost cuts will be key factor for the company until demand improves.
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