Energy group Enersis profit slips against strong comparative
SANTIAGO, July 25 (Reuters) - Net profit at Latin American energy group Enersis SA fell more than 40 percent in the first half of 2014, roughly in line with market estimates, against a strong numbers a year ago and currency headwinds.
Net profit for the six months to end-June was 191 billion Chilean pesos ($339 million), compared with 322 billion pesos a year earlier and a Reuters estimate of 204 billion pesos.
Enersis, which distributes electricity in Chile, Argentina, Peru, Colombia and Brazil, benefited in 2013 from a one-time payment from the Argentine government.
A devaluation of the Argentine peso also had a negative impact in 2014, the group said late on Thursday.
The Chile-based company, which is controlled by Spain's Endesa, has said it plans to invest $9 billion in South America over the next five years.
Its listed energy generation subsidiary, Endesa Chile, , reported a net profit of 93 billion pesos in the first half, down 7 percent from a year ago, largely because of rising energy costs in Chile.
Chile is facing a power crunch, as supply struggles to meet the demands of its crucial energy-hungry copper mining industry.
($1 = 563.6500 Chilean Pesos) (Reporting by Rosalba O'Brien and Anthony Esposito; Editing by Steve Orlofsky)
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