Snam Sees Profits Rising 4% Per Year To 2021

Reuters

MILAN, March 7 (Reuters) - Italian gas grid company Snam said on Tuesday it expected net profits to grow by four percent a year to 2021 boosted by cost savings and increased investments.

Net profits this year would be around 0.9 billion euros ($952 million), it added.

Snam, Europe's biggest gas pipeline operator, said it would spend five billion euros in the period 2017-2021, investing 4.7 billion euros in Italy.

The state-controlled company confirmed a dividend growth of 2.5 percent a year in the period 2016-2018, adding it would introduce an interim dividend on 2017 results.

(Reporting by Stephen Jewkes, editing by Giulia Segreti)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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