Power exchange profit down 15% in 2007

Anglo-Dutch energy trading exchange APX on Monday announced a 15% fall in net profit to €7.5m for 2007. Turnover rose 5% to €26.6m.

In a statement, the Amsterdam-based APX Group said profit figures were down largely because of a one-off tax windfall in 2006 and increased operating costs as a result of the development of new services.
Set up in 1999 APX, which has a total of 213 members from over 15 countries, offers online short-term trading for electricity and gas in the Netherlands, Britain and Belgium

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