May 14, 2019 / 5:14 AM / 6 days ago

Innogy's retail woes continue as Q1 profit drops 33%

FRANKFURT, May 14 (Reuters) - German energy group Innogy , which is being broken up by parent RWE and rival E.ON, on Tuesday posted a 33-percent decline in first-quarter net profit, as it continued to lose customers in Britain.

First-quarter adjusted earnings before interest and tax (EBIT) fell 22 percent to 964 million euros, lower than the 976 million euros ($1.10 billion) average Reuters poll of banks and brokerages.

$1 = 0.8898 euros Reporting by Christoph Steitz and Michelle Martin Editing by Thomas Seythal

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