Europe Dents Profits At Utility GDF Suez
The company said, however, that it was confident its strategy would allow it to ride out the poor outlook in Europe.
"In order to prepare for an economic climate that promises to be challenging in Europe for 2013 and 2014, the group has decided to accelerate its transformation, simplify its organization, and reduce its expenses, capex (capital expenditure) and debt," said CEO Gerard Mestrallet.
Still, the company is anticipating a drop in its net recurring income this year to between â¿¬3.1 billion and â¿¬3.5 billion.
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