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UPDATE 1-Suez Env H1 core profit up, sees rise in 2008 net

Thu Aug 28, 2008 2:56am EDT

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(Adds 2008 outlook)

PARIS, Aug 28 (Reuters) - Suez Environnement's (SEVI.PA) Chief Executive Officer Jean-Louis Chaussade said on Thursday that the group's 2008 net profit would be up on that of 2007 after reporting a rise in first-half core profit and sales.

"2008 net profit will be above that of 2007 and its increase will exceed that of EBITDA (earnings before interest, tax, depreciation and amortisation)," Chaussade said.

The water and waste company, split from utility Suez prior to its merger with GDF (GSZ.PA), also said on Thursday it maintained its 2008-2010 financial targets.

The company said it had a solid first-half performance, with revenue growth resilient to the economic slowdown.

It said revenue increased by 7.5 percent in total and by 9.7 percent at constant foreign exchange rates to 6.03 billion euros ($8.87 billion). EBITDA was 1.006 billion, up 5.2 percent. (Reporting by Marcel Michelson, editing by Will Waterman)



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