July 27, 2017 / 3:54 PM / a year ago

Enel sticks to targets after H1 core earnings fall

MILAN, July 27 (Reuters) - Italy’s Enel stuck to its full-year targets after core earnings in the first half fell on a narrower asset base and drought conditions that affected power production in Spain and Italy.

The state-controlled utility said on Thursday ordinary earnings before tax, depreciation and amortisation fell 5 percent to 7.532 billion euros ($8.8 billion), in line with analyst expectations.

Enel, which last year sold a controlling stake in Slovakian energy group Slovenske Elektrarne, said it expected to make further disposals and bolt-on acquisitions in the second half of the year. ($1 = 0.8575 euros) (Reporting by Stephen Jewkes, editing by Isla Binnie)

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