EDF net profit up 12 percent

(AP) — French utility Electricite de France SA says net income increased 12 percent last year after its acquisition of British Energy, and forecast an improvement in profits this year.

The state-controlled company said Thursday that it earned a net profit of €3.9 billion ($5.37 billion) in 2009, compared to €3.48 billion in 2008.

Revenue rose 3.9 percent to €66.34 billion.

New CEO Henri Proglio, whose appointment has caused controversy in France because he stayed on at water and waste company Veolia as non-executive chairman, said in a statement that EDF plans to improve its operating profit in 2010.

In a statement, EDF forecast "significant" growth in earnings before interest, taxes, depreciation and amortization in 2010.