Repsol 2Q Net Profit Soars

   By Pietro Lombardi

Repsol SA (REP.MC) said Thursday that its second-quarter net profit rose significantly, supported by the performance of its upstream business.

The Spanish oil-and-gas company reported net profit of 936 million euros ($1.09 billion), up from EUR367 million a year earlier.

In adjusted terms, net profit rose 23% to EUR549 million, the company said, below analysts expectations of EUR587 million, according to a survey provided by the company.

Operating result at its upstream business--which comprises exploration and production--soared to EUR681 million compared with EUR168 million a year earlier.

Downstream--which includes refining, marketing and distribution services--generated operating results of EUR427 million, down from EUR571 million a year ago.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

July 26, 2018 02:36 ET (06:36 GMT)

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