Energy suppliers E.ON announced first quarter profits - 14/05/2010
Energy suppliers E.ON announced that company profits in the first quarter of this year increased by 16 per cent.
The increase in profits was driven largely by the exceptionally cold winter at the end of 2009 and beginning of 2010, which drove up demand.
E.ON, which is based in Dusseldorf, said in a statement that the company's adjusted net income - which the firm uses to calculate its dividend - increased to 2.1 billion euros (£1.8 million) from 1.8 billion euros last year.
Overall sales stood at around 26 billion euros, which is practically unchanged from the year before, E.ON said.
The company's profits were helped by an increase in the power and natural gas use in Germany of around five per cent in the quarter, as factories raised output and households kept heating on for longer.
Johannes Teyssen, chief executive of E.ON, said he plans to boost the company's profits further by cutting down operating costs and running the utility's assets more efficiently.
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