12:02 PM EST - Noranda Income Fund : reported lower net profits last year on a tax expense but generated sharply higher earnings in the fourth quarter on widening premiums between production costs and sales. The fund, based in Valleyfield, Que., said Tuesday it earned $27.4 million or 73 cents a unit in 2007, down from $33.2 million or 89 cents in 2006, mainly due to a future tax expense of $13.1 million booked last year. Noranda Income Fund
shares T.NIF are trading up 21 cents at $9.29.
