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Innogy cuts outlook for retail unit on British market

Reuters - UK Focus
Updated

FRANKFURT, Nov 28 (Reuters) - German energy group Innogy on Thursday cut the outlook for its retail division, which will soon be part of E.ON, as a price cap in the British market continued to weigh on profits.

The group now expects adjusted earnings before interest and tax (EBIT) of 200-300 million euros ($220-$331 million) at its retail unit in 2019, down from a previous outlook of 300-400 million. ($1 = 0.9073 euros) (Reporting by Christoph Steitz, editing by Riham Alkousaa)