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Engie CFO Confident Company Can Execute Asset Plan

Engie SA, the French utility formerly known as GDF Suez, said first-half profit fell 6.9 percent as oil and gas prices dropped and warm weather at home curbed heating demand. Net recurring income declined to 1.5 billion euros ($1.7 billion) from 1.6 billion euros a year earlier, Engie said Thursday in a statement. The company, based in Courbevoie outside Paris, maintained full-year forecasts. Engie said in February it would sell 15 billion euros of assets and cut 1 billion euros of costs by 2018 to reduce its exposure to oil, gas and power prices that had tumbled amid oversupply and government subsidies for clean energy.