Iberdrola sees 15.2 percent jump in third quarter net profit

20th October 2010, Comments 0 comments

Spanish electricity group Iberdrola said on Wednesday its net profit in the third quarter had jumped by 15.2 percent to 602.4 million euros (833.66 million dollars).

The figure comfortably beat the average gain of 517.1 million euros expected by analysts according to a poll conducted by Dow Jones Newswire.

Sales rose by 14.7 percent to 7.66 billion euros while earnings before interest, tax and amortisation increased by 13.9 percent 1.727 billion euros.

But the company's shares slid 0.99 percent to 5.803 euros at the beginning of trading with the IBEX-35 down 0.66 percent.

© 2010 AFP

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