Public Power Corp reported on Tuesday a mild rise in its first half net profits largely due to one-off gains and less expenses and a lower tax rate, despite analysts expectations for a sharp drop.
Net profits stood at 99.4 million euros versus 95.3 million euros in the respective period of 2006.
In contrast, earnings before interest, tax, depreciation and amortization were 456.4 million euros versus 475.8 million euros.
The company’s expenses, including lignite purchases fell by 15% to 268.5 million euros.