AmeriGas predicts 2009 profit of $224M

AmeriGas expects to post FY 2009 profit of $224 million, issues 2010 prediction

• On 2:30 pm EDT, Wednesday October 28, 2009

VALLEY FORGE, Pa. (AP) -- AmeriGas Propane Inc., general partner of propane marketer AmeriGas Partners LP, said Wednesday that AmeriGas Partners expects to report a fiscal year 2009 profit of about $224 million.

AmeriGas said that the results for the year, which ended on Sept. 30, got a boost from higher unit margins resulting from a rapid drop in wholesale propane costs. That was partially offset by the effects of recessionary market conditions, which hurt volumes.

Assuming normal weather for this winter, the company said it expects to post a fiscal 2010 profit of $181 million to $191 million.

AmeriGas shares fell 27 cents to $36.92 in afternoon trading.