Repsol reports lower profit gain in third quarter
The Spanish-Argentine oil group Repsol reported on Thursday a slowdown in momentum in the third quarter, when net earnings rose 16.4 percent from the equivalent figure last year after a gain of 49.8 percent in the second.
Net profit in the period came to 448 million euros (617 million dollars) in the July-September period and 1.786 billion euros in the first nine months, a rise of 32.5 percent.
Operating earnings in the third quarter climbed 16 percent to 1.056 billion euros.
Despite the lower net profit gain in the third quarter, Repsol said in a statement that the trend had been positive in the past six months, supported by a rise in the dollar and healthy crude prices.
© 2010 AFP