Spain's Abengoa H1 net profit down 11 percent

MADRID Wed Aug 28, 2013 12:26pm EDT

MADRID Aug 28 (Reuters) - Spanish renewable energy and engineering firm Abengoa posted on Wednesday a 11 percent drop in first-half net profit to 67 million euros ($89.38 million) from a year earlier.

Abengoa, which has energy, transportation and telecommunications assets, said first-half earnings before interest, taxes, depreciation and amortisation came in at 531 million euros ($710.66 million), compared to 397 million euros in the same period in 2012.

The company also revised its debt reduction targets and said it now aimed at reducing its net debt by 3.1 billion euros by 2014 through assets sales and lower investments. ($1 = 0.7466 euros) (Reporting by Julien Toyer; Editing by Louise Heavens)