December 17, 2018 / 7:52 AM / in a month

Innogy cuts outlook after joint venture talks with SSE collapse

FRANKFURT, Dec 17 (Reuters) - Innogy on Monday cut its outlook for the current year after talks to create a British energy retail joint venture with SSE collapsed, leaving the German group with the local loss-making unit.

Including its British retail unit Npower, Innogy now expects adjusted earnings before interest and tax (EBIT) of about 2.6 billion euros ($2.9 billion) and adjusted net income of more than 1 billion euros.

It had previously targeted adjusted EBIT of about 2.7 billion euros and adjusted net income of more than 1.1 billion.

$1 = 0.8838 euros Reporting by Christoph Steitz; Editing by Maria Sheahan

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