Duke Energy 1Q profit jumps 29 percent

CHARLOTTE, N.C. (AP) - Power company Duke Energy says its second-quarter earnings jumped 29 percent as improving industrial demand and a cold winter boosted electricity sales.

Duke says it earned $445 million, or 34 cents per share, for the quarter ended March 31, compared with profit of $344 million, or 27 cents per share in the year-ago quarter.

Excluding charges, Duke said it would have made 36 cents per share in the quarter.

Like other utilities and power generators, Duke has seen demand for electricity plummet during the recession, especially among industrial customers.

Duke, based in Charlotte, N.C. said industrial sales rose 4 percent in the quarter.