EnQuest's core profits slip 20 pct due to writedowns

LONDON, March 17 (Reuters) - North-Sea focused oil producer EnQuest (LSE: ENQ.L - news) saw full-year core earnings slip 20 percent year on year, it said on Thursday, as it was forced to write down $626 million on the value of some of its assets due to the slump in oil prices.

Earnings before interest, tax, depreciation and amortisarion (EBITDA) fell to $464.8 million from $581 million in 2014, but the result was better than the $408 million expected by analysts polled by Reuters.

The company also said its 2016 spending would come in at the lower end of its $700-750 million forecast, despite having to spend more money on the Kraken field after increasing its stake. (Reporting by Karolin Schaps; Editing by Greg Mahlich)