April 30, 2019 / 6:14 AM / 2 months ago

Spain's Repsol Q1 net profit ticks up 6 pct as costs fall

MADRID, April 30 (Reuters) - Spanish oil and gas firm Repsol said on Tuesday first quarter adjusted net profit rose 6 percent from a year earlier, as lower oil and gas prices and a production stoppage in Libya were offset by lower costs and a stronger U.S. dollar.

Recurring net profit adjusted for one-off gains and inventory effects (CCS net profit) came in at 618 million euros ($691 million) in January-March, compared with 583 million euros at the beginning of 2018.

A forecast drawn from analyst estimates provided by the company had pointed to adjusted net income of 566 million euros. ($1 = 0.8948 euros) (Reporting by Isla Binnie; Editing by Paul Day)

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