Spanish energy group Endesa boosts profits

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Spanish electricity firm Endesa, a subsidiary of Italian group Enel, reported on Tuesday a 15-percent leap in quarterly net profit with a strong performance in Latin America.

Net profits rose 15.4 percent from the same period a year earlier to 695 million euros ($957 million) in the third quarter of 2011, the company said in a statement.

Sales rose 7.0 percent to 8.410 billion euros over the same period.

Commenting on the performance so far this year, Endesa said it enjoyed stronger energy demand in Latin America, especially Chile, Peru and Argentina, but weaker demand in Spain from small companies and households.

© 2011 AFP

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