Engie Sees Year Core Profits At Low End Of Range

Reuters

PARIS, Nov 10 (Reuters) - French gas and power group Engie said on Thursday that its EBITDA measure of core earnings fell 2 percent to 7.7 billion euros ($8.4 billion) and said the full-year result would be at the lower end of it forecast range.

At the start of the year, Engie forecast 2016 EBITDA of 10.8 to 11.4 billion euros and net recurring income of 2.4 to 2.7 billion euros.

Engie's nine-month revenue was down 11.1 percent at 47.5 billion euros.

Engie said its asset disposal programme had made progress with 6.1 billion euros-worth signed so far, up from 5.5 billion announced in April and 41 percent of its target for end-2018.

(Reporting by Benjamin Mallet and Andrew Callus; Editing by Michel Rose)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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