Iberdrola exceeds expectations with strong first half profit

Iberdrola (IBEX 35:IBE) has announced a net profit for the first half of 2012 as it climbed 15.2 per cent.

The results are down to strong international operations, which helped offset weakness in its home market.

Net profit for the six months through June was $2.18bn compared with $1.89bn in the first half of 2011.

Fox News reports that the results were above analysts' expectations. Total sales rose 9.3 per cent to $20.5bn.

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