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Spain's Endesa confirms outlook after 15% profit increase

By Reuters News

MADRID, Oct 28 (Reuters) - Spanish power utility Endesa ELE.MC on Wednesday confirmed its full-year profit guidance after growing earnings at its network business supported a roughly 15% increase in net profit for the first nine months.

Net profit for the period reached €1.96 billion ($2.18 billion), up from €1.71 billion in the same period last year.

The company, owned by Italian energy giant Enel ENEI.MI, said revenue for the period rose 9% to €17.39 billion.

Adjusted profit, which the company uses for its guidance and dividends, rose more than 22% to €2.13 billion, on track to achieve its target of more than €2.4 billion this year.


($1 = 0.8981 euros)

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