Vattenfall operating earnings rise in Q1

STOCKHOLM, April 29 | Wed Apr 29, 2009 3:07am EDT

STOCKHOLM, April 29 (Reuters) - State-owned power group Vattenfall [VATN.UL] posted a 12.6 percent rise in first-quarter operating profit on Wednesday but said it expected earnings to be weaker in coming quarters due to lower electricity prices.

Sweden's Vattenfall, Europe's fifth largest electricity producer, said its operating profit in January through March rose to 12.86 billion Swedish crowns ($1.59 billion) from 11.4 billion in the year-ago quarter.

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