French utility Gaz de France (1020848.FR) Thursday said sales jumped 15% in the first quarter of 2008, helped by higher gas prices and a colder quarter than in 2007.
The Paris-based company, which plans to merge with fellow utility Suez (SZE.FR), said sales rose to EUR10.38 billion in the first quarter, from EUR9.05 billion a year earlier.
That beats an average estimate of EUR10.14 billion from a Dow Jones Newswires survey of five analysts.
GdF also confirmed its 2008 financial objective - to achieve earnings before taxes, depreciation and amortization, or Ebitda, of EUR6.1 billion. That objective assumes average climate conditions for 2008, no significant changes in the price of oil products, and that France's state-capped gas rates match supply costs.
Shares of GdF have risen 19.9% over the past 12 months as investors reacted positively to September's news of a definitive plan for a tie-up with Suez. That's against a CAC 40 down 16.4% over the same period.
The shares closed up 1.2%, or EUR0.48, at EUR41.72.