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.
Too many rainy weekends? ... LI Works: Making Countertops ... LEGO at Old Westbury Gardens ... Previewing the Knicks in the NBA Finals ... Get the latest news and more great videos at NewsdayTV
Too many rainy weekends? ... LI Works: Making Countertops ... LEGO at Old Westbury Gardens ... Previewing the Knicks in the NBA Finals ... Get the latest news and more great videos at NewsdayTV
