Profits Rise at GN, Iberdrola

摘要

Spain’s two international utility groups both reported higher first-quarter earnings Wednesday. Gas Natural (GN) — which now incorpo- rates Union Fenosa — said net profits grew by 9.4% to ?386 million ($513 million) amid “incipient recovery” in Spanish energy demand but ongoing price volatility. Its Fenosa acquisition was completed in Sep- tember, but figures are like-for-like with 2009. The firm last week rebranded itself Gas Natural Fenosa, but Gas Natural re- mains its legal name (IOD Apr.21,p8).