Energy giant Total, France's biggest firm, announced the highest annual net profit in French history on Thursday, after making 13.9 billion euros (18.0 billion dollars) thanks to record oil prices.Profits began to fall in the fourth quarter of 2008 as the credit crunch hit demand and send crude prices tumbling, but huge earnings in the first three quarters helped the group end the year on an historic high. - France24
French energy giant Electricite de France (EDF) on Thursday announced a 38.48-percent drop in net profits for 2008 to 3.4 billion euros (4.4 billion dollars).
The profit figure was hit by a one-off payment of compensation to competitors required under French regulation liberalising the market for electricity for industrial clients, EDF said.This year, EDF boss Pierre Gadoneix said the company would focus on "organic growth through investments, notably in France, improvement in operating performance, integration of newly acquired companies and strengthening of our financial structure." - France24
EDF, the French energy group, could be forced to sell some of its power stations in France to help to fund its £12.2 billion acquisition of Britain’s nuclear industry, it admitted yesterday.
EDF shocked investors by unveiling a fall of nearly 40 per cent in annual profits and warning that its debt pile had increased to nearly €25 billion (£22.5 billion) after a string of acquisitions, including those of British Energy, the UK nuclear generator, and America’s Constellation Energy. The Times
EDF shocked investors by unveiling a fall of nearly 40 per cent in annual profits and warning that its debt pile had increased to nearly €25 billion (£22.5 billion) after a string of acquisitions, including those of British Energy, the UK nuclear generator, and America’s Constellation Energy. The Times
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