July 24, 2019 / 6:19 AM / 4 months ago

Spain's Iberdrola boosts profit forecast as H1 earnings rise

MADRID, July 24 (Reuters) - Spanish renewable energy giant Iberdrola posted a 12.5% rise in first-half core earnings on Wednesday, as growth in the United States, Mexico, Brazil and Germany offset lower returns in Spain and Britain.

The supplier of energy to more than 30 million people globally raised its net profit forecast for 2019 from a high single-digit increase to a double-digit rise.

Core earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 4.99 billion euros ($5.56 billion) and net profit climbed 16.6% to 1.64 billion euros. ($1 = 0.8974 euros) (Reporting by Isla Binnie; Editing by Paul Day)

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