Iberdrola 1st Half Net Profit EUR1.96B Versus Profit EUR1.1B

MADRID (MarketWatch) -- Spanish electricity company Iberdrola SA (IBE.MC) Thursday said its net profit rose 78% in the first half, boosted by power generation and healthy electricity pool prices. Iberdrola said its net profit rose to EUR1.96 billion for the six months through June 30, from EUR1.10 billion in the year-earlier period. That was higher than the average EUR1.85 billion profit estimate from five analysts polled by Dow Jones Newswires. Profits were boosted by an increase in electricity output in the second quarter, and rising electricity pool prices in Spain. Iberdrola's revenue in the first half rose to EUR12.02 billion, up from EUR6.72 billion posted a year earlier. At 0721 GMT Thursday, shares in Iberdrola were down 1.4% at EUR8.42, against a 0.4% lower overall Spanish market. Company Web site:... [read full story]