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DAM-L Suez Lyonnaise profit growth buoyed by water, energy divisions (fwd)
Suez Lyonnaise profit growth buoyed by water, energy divisions
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PARIS Franco-Belgian conglomerate Suez Lyonnaise des Eaux reported a 29%
jump in first-half revenues yesterday, buoyed by strong growth in its water
and energy divisions.
The company said revenues leapt to 19,09bn from 14,79bn in the first six
months of 1999. Sales in the first half were buoyed by a number of new
acquisitions, particularly US water groups Nalco and Calgon. 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%. Revenues from the water division were up more than 52% 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% ahead of the same period last
year. Dow Jones.