E.ON raises 2008 forecast

Germany's E.ON, Europe's second-largest utility, raised its prediction for adjusted net income in 2008, sending its shares more than 3 percent higher on Wednesday. Net income in 2008, adjusted for extraordinary effects, will rise 5 to 10 percent, the company said in a statement, after previously predicting a "slight" increase, which E.ON in the past explained as a rise of as much as 5 percent.
First-half adjusted net income as well as adjusted earnings before interest and taxes (EBIT) at the eight-year-old utility beat expectations. Adjusted net income climbed to 3.3 billion euros ($4.94 billion), compared to the 3.2 billion euros estimated on average by 12 analysts in a Reuters poll.