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E.On profit jumps on divestments
Germany's biggest utility said full-year earnings rose 71% to $8.8 bil, aided by proceeds from selling real-estate and gas units. Sales rose 21% to $55.6 bil. E.On forecast a fall in 2006 net income and a slight gain in operating profits. The company has offered $24.5 bil for Spanish utility Endesa, but Spain wants a domestic suitor. Shares fell 2% to 35.88.
** ATP Oil & Gas reversed a Q4 loss to earn a penny a share, beating an expected loss of 12 cents. Revenue from oil and gas exploration grew 52% to $49.9 mil. Shares rallied 8.5% to 39.56.
Defense grills …