Profit down at Nuon after write-offs
Tuesday 31 July 2012
Energy company Nuon saw profit fall 62% in the first half of 2012 compared with the year-earlier period, news agency Novum reports.
Net profit fell to €75m compared with €197m a year ago. Most of the loss came from write-offs of derivatives and other financial tools. Without these, net profit was €152m.
Nuon, which is owned by the Swedish energy firm Vattenfall, booked a drop in turnover of 11% to €2.1bn. The company has lost a great many customers over the six-month period following the emergence of new competition in the energy market, says Novum.