Energy firm reports drop in profits

Holland’s biggest energy concern Essent on Thursday announced a 4% fall in net profit in the first half of the current year to €462m.

Turnover in the same period was 22% higher at €4.4bn as a result of higher energy prices.
The results came under pressure from higher interest rates and the fact that the company booked a one-off windfall in the first half of 2007, said Essent.
Earlier this week Essent’s rival Nuon announced a 40% rise in first half net profit.

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