GASNF Naturgy Energy Group SA (PK)

   By Marc Bisbal Arias 
 

Gas Natural SDG SA (GAS.MC) said Thursday that its first-quarter net profit rose on year on the back of higher net sales.

Net profit was 320 million euros ($390 million) compared with EUR298 million in the year-earlier period. This included the capital gain from the sale of the company's Italian business and an impairment for preliminary adjustments, which came to a combined total of EUR338 million.

Net sales rose to EUR6.41 billion from EUR6.1 billion.

The company said it had a good business performance in the quarter, particularly in gas.

Gas distribution rose 5.6% year-on-year, but electricity distribution stayed flat. Wholesale gas supply grew during the period both internationally and in Europe, with the exception of Spain, where it decreased.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

April 26, 2018 03:12 ET (07:12 GMT)

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