Enel Profit Falls as Europe’s Economic Slump Cuts Power Demand
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Enel SpA, Italy’s largest utility, said first-quarter profit dropped 26 percent as Europe’s economic slump cut electricity sales.
Net income slid to 852 million euros ($1.12 billion) from 1.15 billion euros a year earlier after 125 million euros of writedowns, according to a stock-exchange statement. The Rome-based company said revenue fell 1.5 percent to 21 billion euros.