Gas Natural powers up profits
Spanish energy company Gas Natural has booked a 10.2% rise in first quarter
net profit, coming in at €335.8 million ($515 million).
Gas Natural's earnings before interest, tax, depreciation and amortisation
(EBITDA) was slightly ahead of expectations, rising 15.4% to €725.9 million.
A Reuters poll of seven analysts had forecast, on average, a net profit of
€333.7 million and EBITDA of €712.7 million.
Profits benefited from a continued sharp improvement in its Spanish
electricity business where core profit rose 124% to €137.1 million, Gas
Natural said.
Electricity made 23.4% of the company's core profit, helped by the purchase of
power stations in Mexico which came into the results for the first time.
Gas Natural is controlled by Catalan savings bank La Caixa and Repsol YPF
which together own over 60% of the company.
09 May 2008 07:23 GMT
| last updated:
09 May 2008 07:23 GMT
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