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Gas Natural posts annual profit rise on Latin America

Spanish energy group Gas Natural posted Tuesday an 8.8-percent rise in its 2012 net proft owing mainly to higher sales in Latin America and cost-cutting measures. The company, Spain's biggest gas supplier, said its net profit last year totalled 1.441 billion euros ($1.923 billion), up from 1.325 billion euros in 2011. Net turnover rose 14.4 percent to 24.904 billion euros while earnings before interest, taxes, depreciation, and amortisation (EBITDA) -- a key measure of profitability -- rose 9.4 percent to 5.080 billion euros.
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