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Veolia says profit rose 11 percent on new orders and acquisitions

Veolia says profit rose 11 percent on new orders and acquisitions

Veolia Environnement SA, the world's biggest water company, said Wednesday that first-half profit rose 11 percent after winning new orders and making acquisitions.
Net income for the six months through June 30 rose to euro493 million (US$670 million) from euro444.5 million in the same period a year earlier, the company said in a statement.
The water, waste and energy services company said earlier this month that revenue rose 10.9 percent to euro15.46 billion (US$21.19 billion) in the first half as the recent acquisitions and new water contracts boosted results.
Revenue this year will rise more than 12 percent and operating income will rise at a similar rate in the full year, the company said Wednesday.
Veolia shares rose 2.3 percent to euro54.37 (US$74.16) in Paris.
The company said in June that it raised euro2.6 billion (US$3.4 billion) through a share sale in a bid to boost financial flexibility to promote continued growth.
The company also said earlier this year it agreed to buy U.S. heat systems company Thermal North America Inc. for US$788 million (euro650 million). That was Veolia's fourth acquisition in less than a year.
The cost of the four acquisitions totaled euro3.3 billion (US$4.4 billion), the company said.
For 2007 alone, total investments in acquisitions, maintenance and new contracts should reach euro6 billion (US$8 billion) to euro6.5 billion (US$8.6 billion), the company said.


Updated : 2021-05-10 07:23 GMT+08:00