March 13, 2018 / 7:28 PM / 5 months ago

Polish power utility Tauron's fourth quarter profit slightly below expectations

WARSAW (Reuters) - State-run Polish utility Tauron (TPE.WA) on Tuesday reported a doubling of fourth-quarter profit to 188 million zlotys ($55.29 million), benefiting from the lack of impairment charges that hit results in the same period last year.

Net profit in the final quarter of 2017 came in slightly lower than the 194 million zlotys Tauron initially estimated in February.

Tauron also said that its coal output fell by 18 percent to 1.77 million tonnes, while power production was flat at 4.38 TWh.

The group said capital expenditure in 2017 fell by 9 percent to 3.5 billion zlotys.

Reporting by Agnieszka Barteczko; Editing by David Goodman

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