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Portugal EDP 9-month profit falls 8% due to pandemic, one-off costs

LISBON, Oct 29 (Reuters) - Portugal’s largest utility, EDP , reported on Thursday a 8% drop in its 9-month net profit to 422 million euros ($499 million), hit by lower demand in Iberia and Brazil primarily due to the COVID-19 pandemic and the closure of a major coal plant.

The company, whose main shareholder is China Three Gorges, said its consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) dipped 2% to 2.63 billion euros between January and September from a year ago.

$1 = 0.8461 euros By Sergio Goncalves, Editing by Victoria Waldersee and Andrei Khalip

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