Elektro profit falls 27% to US$96.8mn in 2004

Brazilian power utility Elektro reported a 260mn-real (US$96.8mn) net profit for 2004, a 27% fall from the year-earlier result. Ebitda increased 52% to 589mn reais. Net revenue grew 16% to 2.04bn reais, while gross profits jumped 54.5% to 601mn reais. Operating profits dropped 14% to 340mn reais. Gains per lot of 1,000 shares stood at 1.89 reais. At the end of December, Elektro's net equity was 360mn reais. Elektro supplies electricity in 228 municipalities in São Paulo and Mato Grosso do Sul states.