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French utility EDF sees profit up 4.6 percent as renewable energy offsets lower nuclear output
PARIS (AP) Electricite de France saw profits rise 4.6 percent in the first half of the year as growth in renewable energy offset lower nuclear output.
The state-controlled utility said Tuesday that it also saw an 8.2 percent jump in sales to 36.2 billion ($44.3 billion). For the January-to-June period, net income was 2.8 billion.
That growth comes despite more and longer planned outages at nuclear plants this year than last.
But hydropower, which struggled last year, and other renewable energies made up the difference. Excluding one-off charges, the group's net income grew 10.3 percent.
The company reiterated that it expected its net income excluding non-recurring items to grow by 5 to 10 percent this year.