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Byline: Kristi E. Swartz
May 1--FPL Group Inc., owner of the state's largest utility, said Monday its first-quarter profit fell 40 percent on a loss in value of contracts that lock in fuel prices.
But earnings for Florida Power & Light Co. grew steadily, largely because the utility continued to add customers, and shares (NSYE: FPL) rose to a 52-week high of $65.76 before falling back to close Monday at $64.37, up 47 cents.
"We are clearly off to a good start in 2007," Moray Dewhurst, FPL's chief financial officer, told investors during a conference call Monday morning.
Juno Beach-based FPL's first-quarter net income fell to $150 million, …