GDF Suez Says Profit Will Fall Next Year as Europe Economy Slows
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GDF Suez SA, Europe’s largest utility by market value, said earnings will fall next year because of a “challenging” economic outlook.
Recurring net income will be 3.1 billion euros ($4 billion) to 3.5 billion euros next year, compared with an expected 3.7 billion to 4.2 billion in 2012, France’s former gas monopoly said in a statement yesterday. Profit will be “in the same range” in 2014. The company said it would cut investment, while maintaining dividend payments.