DEPA acquisition boosts Q1 results of Italgas

Italy’s biggest gas distributor Italgas said on Thursday its core profit rose 19% to 297 million euros in the first quarter, lifted by both a newly acquired Greek business and its energy efficiency services.

Total revenues were up 36% year-on-year to 480 million euros, with sales from Greece accounting for nearly 10% of the total.

Italgas finalized the acquisition of Greek gas grid operator DEPA Infrastructure last year and will announce its updated plans for investments of the group and its new unit on June 14. [Reuters]