Acquisition program takes toll on earnings at Pacific Enterprises. (holding company for Southern California Gas Co. and Thrifty Drug Stores)

From: Los Angeles Business Journal | Date: August 15, 1988| Author: Zwahlen, Cyndia | Copyright information

Acquisition program takes toll on earnings at Pacific Enterprises

A $700 million acquisition program has taken a toll on this year's earnings at Pacific Enterprises of Los Angeles, the $5.3 billion holding company for Southern California Gas Co. and Thrifty Drug Stores. Higher interest expenses and costs associated with the acquisitions were largely to blame for the 23 percent drop in net income for the second quarter, analysts said.

Pacific Enterprises, the co...

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