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E.On sees a decline in profits

9th May 17 2:43 pm

Take a look at the figures

German energy giant E.On has seen its quarterly profits decline due a full in UK customers.

The group said its overall revenues were down seven per cent because of the decline in the UK.

E.On also stated that the fall in the pound since the Brexit vote has played its part, it has caused  “currency-translation effects”.

The energy firm has around 4.6 million UK customers but it did not confirm how many it had lost.

Adjusted profit for the first three months of the year was just over 1bn euros (£843m), down by 34 per cent on the same period just a year earlier. These figures are before interest and tax.

After interest and taxes, the firms adjusted net income sat at 525m euros, this is a fall of 20 per cent.

Chief financial officer Marc Spieker said the firms first-quarter results was “in line with our expectations despite a difficult business environment”.

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