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Business

RWE Profit Higher Than Forecast

Energy company RWE did better than expected in 2003 and aims to expand strongly in 2004. The Essen-based firm announced Wednesday that operating profit had increased by 23.2 percent to €5.55 billion ($6.91 billion). In January, RWE had forecast an 18 percent increase. The firm's turnover fell by 5.9 percent to €43.875 billion ($54.627 billion). RWE aspires to increase its net profit by at least 10 percent in 2004.