Advertisement

Pacific Enterprises’ earnings rose 1% to $64.17...

Share

Pacific Enterprises’ earnings rose 1% to $64.17 million for its first quarter, reflecting a 27.5% increase in income for the Los Angeles-based holding company’s Thrifty Corp., which operates drug and discount stores. Pacific Enterprises also owns Southern California Gas Co., a natural gas distribution utility, which had income of $37 million for the first quarter, compared to $39.7 million for the same quarter a year ago. The firm said the gas company’s 7% decrease in earnings was due to a lower return on equity authorized for the utility in 1988 by the California Public Utilities Commission.

Advertisement