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CORRECTED-Spain's Iberdrola misses core profit target on lower pound
February 22, 2017 / 7:33 AM / 7 months ago

CORRECTED-Spain's Iberdrola misses core profit target on lower pound

(Corrects period in first paragraph)

MADRID, Feb 22 (Reuters) - Spanish utility Iberdrola on Wednesday posted a 5.5 percent increase in full-year core profit (Ebitda) to 7.8 billion euros ($8.2 billion), below a target for a 6 percent increase, after it was hit by the lower value of the pound.

Europe’s second-biggest power company by market value said net profit was up 11.7 percent in the period to 2.7 billion euros, helped by its U.S. business. ($1 = 0.9499 euros) (Reporting by Julien Toyer and Jose Elias Rodriguez; Editing by Paul Day)

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