Dec 28, 2000

Water, Energy Divisions Boost Profit Growth for Suez Lyonnaise

Franco-Belgian conglomerate Suez Lyonnaise des Eaux has reported a 29 percent jump in first-half revenues, with particularly strong growth in its water and energy divisions.

The company said revenues leapt from 14.79bn to 19.09bn during the first six months of 1999. New acquisitions, including U.S. water groups Nalco and Calgon, buoyed the sales. The consolidation of revenues from Dutch energy unit Epon from the beginning of March also boosted figures.

Suez's key energy division showed revenues of 9.29bn in the first half, up nearly 35 percent. Revenues from the water division were up more than 52 percent to 4.27bn.

The group's two other core businesses, waste management and media-telecommunications, also showed strong growth.

On a pro forma basis stripped of the effect of new acquisitions and exchange rates, Suez said first-half revenues were 9.7 percent ahead of the same period last year.

(Source: Suez Lyonnaise des Eaux)