RWE results reveal 83 per cent improvement in earnings

Energy company RWE has released its financial results for 2011, with highlights that include an 83 per cent improvement in earnings.

Operating profit amounted to €558m (£465m) in 2011 compared with €305m in 2010.

Thomas Rappuhn, chief executive officer at RWE, said: ‘Above all, the reasons for this substantial improvement in earnings are the high level of crude oil and gas prices, as well as the increase in our production.

‘Our company is right on target on its growth path. In 2012, we want to further increase the production of oil and gas by developing new reservoirs, and boost our earnings.’