Spain's Iberdrola core profit down 6 percent in first quarter
MADRID, April 27 (Reuters) - Spanish utility Iberdrola on Wednesday posted a 6 percent drop in first-quarter core profit (Ebitda) to 2 billion euros ($2.3 billion), hit by falling business in Spain, Britain and Mexico which more than offset solid activity in the U.S.
Europe's second-biggest power company by market value said net profit was up 3.3 percent in the period to 869 million euros, boosted by lower financial costs and better coverage for the loss of value of some of its key markets' currencies. ($1 = 0.8845 euros) (Reporting by Julien Toyer and Jose Elias Rodriguez; Editing by Paul Day)
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