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Iron Duke
01 February 2001
Strong relationships, strong balance sheet, Duke Energy is confident it can take on Californian problems. By Jim Smith
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?We think that that the year 2000 closed successfully for us and
that we will see continued growth in the year 2001.? The usual
company line from David L Hauser, vice-president and treasurer of
Duke Energy ? but with a twist. It is actually true.
Last year was a tremendous year for Duke. The company operates a
traditional portfolio of natural gas and electric supply, delivery
and trading businesses, which generated revenues of $49.3 billion
for the year 2000, a 127% increase over the previous year. Earnings
before interest and taxes (EBIT) increased 29% to $3.7 billion
during the year.
One of the highlights of the year was the Duke Ventures business
segment, comprised of Crescent Resources, DukeNet Communications
and Duke Capital Partners, reported third-quarter EBIT of $444
million, a 1,486% increase over the $28 million earned in the same
period last year. The increase is attributable to gains realised on
the sale...
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