July 26, 2018 / 4:09 PM / 3 months ago

Portugal EDP's first-half profit falls 16 pct on tax, regulation

LISBON, July 26 (Reuters) - Portugal’s EDP-Energias de Portugal, which is the target of a takeover bid by China Three Gorges, posted on Thursday a 16 percent drop in first-half net profit, mainly due to tax and regulatory pressures in Portugal.

The company, Portugal’s largest by assets, netted 380 million euros ($443 million) in the period. Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 10 percent to 1.72 billion euros, while revenues dropped 7 percent.

$1 = 0.8576 euros Reporting By Andrei Khalip, editing by Axel Bugge

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