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Article: PP&L Resources Reports Positive Earnings Benefit from Sale of Sunbury Plant.
- Article from:
- PR Newswire
- Article date:
- November 1, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ALLENTOWN, Pa., Nov. 1 /PRNewswire/ -- In a $107 million transaction, PP&L, Inc., a subsidiary of PP&L Resources, Inc. (NYSE: PPL) Monday (11/1) completed the sale of its Sunbury power plant and the assets of a related coal-processing facility.
(Photo: http://www.newscom.com/cgi-bin/prnh/19981015/PHTH025 )
John R. Biggar, PP&L Resources senior vice president and chief financial officer, said the sale translates into a one-time positive earnings impact of 27 cents per share for PP&L Resources in the fourth quarter. This one-time earnings benefit was not included in the company's April 1999 earnings forecast of $2.15 per share.
PP&L, Inc. sold ...