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Ivory Coast utility CIE says H1 profit down 57 pct
October 22, 2013 / 8:53 AM / in 4 years

Ivory Coast utility CIE says H1 profit down 57 pct

ABIDJAN, Oct 22 (Reuters) - Ivory Coast power utility CIE recorded a net profit of 3.22 billion CFA francs ($6.71 million) in the first half of 2013, down 57 percent from 7.51 billion CFA francs during the same period last year, the company said on Tuesday.

In a statement in state-owned newspaper Fraternite Matin, the company, partly owned by French industrial group Bouygues , said the drop in profits was largely due to the cost of extensive maintenance.

Turnover rose 21 percent to 183.77 billion CFA francs from 152.19 billion a year earlier.

$1 = 479.6580 CFA francs Reporting by Loucoumane Coulibaly; editing by Joe Bavier and Jason Neely

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