| Updated:
Iberdrola issues profit warning
Spain’s largest power firm Iberdrola warned on profits yesterday after a weak set of 2011 results that showed demand falling in core markets while consumption remained stifled in fragile economies. Iberdrola cut its 2010-2012 recurrent net profit target to under five per cent growth and its Ebitda growth target to about five per cent, compared with previous guidance of five to nine per cent average annual growth in both measures.