RWE Jumps to 10-Month High as Utility Says Targets on Track
- Adjusted net income fell 18 percent in first quarter
- RWE maintains full-year earnings forecast on plant efficiency
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RWE AG jumped to the highest since July after Germany’s biggest power producer said profit is on target and it plans to pay a dividend for the first time in three years.
The Essen-based utility’s efforts to boost plant efficiency and the contribution of energy trading is helping compensate for weak power prices, Markus Krebber, chief financial officer at RWE, said in a statement. Full-year adjusted net income will be 1 billion euros ($1.1 billion) to 1.3 billion euros.