EDP's 9-month profit down slightly but beats forecast

LISBON Tue Nov 6, 2012 12:00pm EST

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LISBON Nov 6 (Reuters) - Portugal's largest company, EDP Energias de Portugal, posted a 3.5 percent drop in 9-month net profit on Tuesday, beating analysts' expectations but pressured by rising debt costs and lower electricity use in recession-hit Portugal and Spain.

The company said net profit fell to 795 million euros, above an average forecast of 775 million euros in a Reuters poll of analysts.

Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at 2.74 billion euros, above the market consensus, of 2.72 billion euros. (Reporting by Sergio Goncalves)