Canadian corporations reported a 7.9% increase in profits in the fourth quarter of 2009, the second straight quarter of gains, according to Statistics Canada.

Corporate profits rose to $60.1 billion, up from $55.7 billion in the third quarter last year, and 19.7% higher than the recent low of $50.2 billion in the second quarter.

Gains were widespread as 15 of 22 industries measured by Statistics Canada reported higher profits. Sectors realizing the largest gains included the financial industry, whose profits rose 19.7% to $15.2 billion. Energy sectors including oil and gas, petroleum and coal collectively reported an 8.6% increase in quarterly profit to $7 billion.

Read the full article at the Business in Vancouver web site.