Profit at renewables giant Iberdrola rose in the first nine months of 2017, as strong business at US and Brazilian subsidiaries compensated for drought-related poor hydropower and wind results in its Spanish home market.

Revenues rose 3.5% to €22.28bn ($25.8bn) during the first nine months from a year earlier.

But earnings before interest, taxes, depreciation and amortisation (Ebitda) fell by 5.4%