Italian gas and oil major Eni has posted a 3.5% rise in reported net profit for the third quarter of 2006, and reaffirmed its outlook for the full-year.
<p>Eni posted reported net profit of E2.4 billion for the third quarter, up 3.5% compared to the same period in 2005, while, for the first nine months of the year, reported net profit rose 15.2% to E7.7 billion<br /><br />Adjusted net profit, meanwhile, was up 7.1% to E2.6 billion for the third quarter and up 17.5% to E8.1 billion for the nine months. This came as a result of higher operating profit, partly offset by a higher group tax rate.<br /><br />Gas sales in Europe were up 7.6% in the quarter, and up 6.2% for the nine months, while oil and natural gas production was substantially stable in the quarter. <br /><br />Eni also reaffirmed its 2006 outlook, with CEO Paolo Scaroni commenting, following third quarter results, I am confident Eni will deliver excellent profitability for the full year. Operating performance improved in virtually all of Eni's business divisions, in a favorable trading environment with higher crude prices.</p>