February 26, 2020 / 7:44 AM / in a month

Iberdrola targets profit growth in 2020 after meeting 2019 target

MADRID, Feb 26 (Reuters) - Leading global wind power producer Iberdrola posted on Wednesday a 13% net profit increase in 2019, meeting its broad growth target thanks to its renewables and networks business, where it said it aimed to keep investing to post high-single digit growth in 2020.

Powering more than 30 million homes and businesses in Spain, the United States, Brazil and Britain brought Iberdrola a net profit of 3.41 billion euros ($3.7 billion) in the period.

The northern-Spain based company, which owns Avangrid in the United States and Scottish Power in Britain, had forecast its net profit would rise at a double-digit rate in 2019. ($1 = 0.9201 euros) (Reporting by Isla Binnie, Editing by Inti Landauro)

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