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Chilectra's profits rise 66% in Jan-Sep.

Bnamericas
Chilean power distributor Chilectra increased its consolidated net profit 66.2% in the first nine months of 2004 to 47.7bn pesos (US$78.1mn) from 28.7bn pesos in the same period last year due mainly to lower losses from related companies, the company told Chile's securities regulator SVS. Losses from related companies fell 76.4% to 13.1bn pesos from 55.5bn pesos in the same period of 2003, helping cut non-operating losses 70.4% to 18.7bn pesos. As in the first half of the year, the operating side of the business was largely constant, with slight rises in operating income and expenses and a slight fall in operating profits to 72.5bn pesos. Sales volumes increased at Chilectra itself by 8.2% to 8,449GWh and were as follows in the companies in which Chilectra has stakes: Argentina's Edesur, up 5.2% to 10.014GWh; Peru's Edelnor, up 6.7% to 3,150GWh; Brazil's Cerj up 4.8% to 5,644GWh and Coelce up 4.1% to 4,483GWh; and Colombia's Codensa, up 4.2% to 7,165GWh.

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