|
|
|
|
National Tree Day Planet Ark Home
|
|
|
||
|
Demasz to spend on efficiency, environment |
||
|
Mail this story to a friend | Printer friendly version
|
||
| HUNGARY: December 20, 2001 | ||
|
BUDAPEST - Hungarian regional electricity distributor Demasz Rt said on Wednesday it would spend 14-15 billion forints ($51.28 million-$54.95 million) in the next few years on efficiency and environmental protection projects.
|
||
|
Demasz, a unit of Electricite de France International, spent 8.5 billion forints on similar projects in 2000 and 11 billion in 2001, local news agency MTI quoted CEO Attila Dervarics as saying. The CEO declined to comment on analysts' forecasts that the company would pay a dividend of between 800 and 1,000 forints per share on its 2001 results, compared with 1,420 forints last year. Demasz posted a nine-month consolidated net profit of 2.903 billion forints, below last year's figures, but above market expectations. Electricity distributors profits have been dented this year by a 13.1 percent increase in wholesale electricity prices in January and a government cap on a retail price increase of 6.1 percent. Wholesale prices were cut by 3.9 percent in July.
|
||
|
REUTERS NEWS SERVICE
|
||
|
