Warm winter cuts into GDF sales

27th July 2007, Comments 0 comments

PARIS, July 27, 2007 (AFP) - French state-controlled gas group GDF on Friday reported lower first-half sales due to the impact of a warm winter in Europe, but maintained its financial targets for 2007.

PARIS, July 27, 2007 (AFP) - French state-controlled gas group GDF on Friday reported lower first-half sales due to the impact of a warm winter in Europe, but maintained its financial targets for 2007.

Turnover was down 11 percent to 13.77 billion euros, (18.90 billion dollars) while sales in the second quarter dropped nine percent to 5.2 billion euros, it said in a statement.

In the first quarter Gaz de France (GDF) had reported first-quarter sales of 9.0 billion euros, down 11 percent from the 10.22 billion reported a year earlier.

GDF said "an exceptionally warm winter was followed by a spring with particularly high temperatures," but it said the situation was unlikely to recur.

It said it expected its operating margin in 2007 to be in line with its 2006 level.


AFP

Subject: French news

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