Repsol Q3 operating profit beats forecasts

MADRID, Nov 12 (Reuters) - Spanish oil group Repsol (REP.MC)
said on Thursday third-quarter adjusted operating profit reached
759 million euros ($1.14 billion), down sharply from a year
earlier but beating forecasts from a Reuters poll of ten
analysts.

Third-quarter net profit at the oil major declined to 279
million euros, also above analysts forecasts.

Analysts had forecast current cost of supply-adjusted (CCS)
operating profit -- which takes in to account one-time items and
inventory effects -- at 652 million euros ($976.9 million), down
from 1.65 billion euros last year but up from 428 million in the
second quarter.

CCS adjusted net profit was expected to come in at 251
million euros, down from 723 million in the third quarter of
2008.

Repsol said nine-months CCS adjusted earnings before
interest and taxes fell 56.6 percent to 1.93 billion euros,
while adjusted recurrent CCS net profit fell 56.7 percent to 964
million.

(Reporting by Jonathan Gleave, editing by Judy Macinnes)