Gas Natural 4Q Net Profit Rises, Helped by Prices and Demand
By Marc Bisbal Arias
Gas Natural SDG SA (GAS.MC) said Wednesday that its fourth-quarter net profit rose more than 35% on year, helped by higher prices and demand.
Net profit was 567 million euros ($701.7 million) compared with EUR417 million in the year-earlier period. Net sales rose to EUR7.28 billion from EUR7.19 billion in the same period last year.
Gas Natural said it supplied slightly less electricity in the fourth quarter, but full-year figures were in line with last year's. Higher electricity demand in mainland Spain increased in the fourth quarter, as did the average price in the daily power-generation market.
The Spanish company said it will pay a supplementary cash dividend of EUR0.67 a share in June, following the interim cash dividend of EUR0.33 a share it paid in September. Gas Natural said that, in line with its policy, it would allocate EUR1 billion of its 2017 income to dividends.
Write to Marc Bisbal Arias at firstname.lastname@example.org
(END) Dow Jones Newswires
February 07, 2018 03:25 ET (08:25 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.