E.ON: shares up after 'very strong results' in 2017

(CercleFinance.com) - The day after announcing that it would acquire RWE's innogy in a complex deal, German utility giant E.
ON said that it finished the 2017 financial year with "very strong results."

The group said adjusted net income rose by 58% to 1.4 billion euros last year, achieving the upper end of its target range of 1.2 billion euros to 1.45 billion euros.

For 2018, E.ON said it was expecting adjusted net income of between 1.3 billion euros and 1.5 billion euros.

The company - which has managed to reduce debt more significantly than expected to 19.2 billion euros - plans to raise its fixed dividend for 2018 to 43 cents per share, 40 percent higher than the previous year, it said.

After jumping 5% yesterday, the E.ON share is up a further 5.6% today.

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