UPDATE 1-Areva takes new charge for Finland delay
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PARIS, Aug 29 (Reuters) - France's Areva (CEPFi.PA) took an unspecified provision for delays to a next-generation nuclear reactor project in Finland on Friday but the setback failed to dent a sharp rise in profits amid fears over high oil prices.
It was the latest in a series of provisions on the project to build an EPR power plant, which is running about two years late. The state-owned nuclear reactor builder has taken several previous charges without specifying the amount.
"Performance was particularly strong in engineering and services but the division was penalized by additional provisions recorded on the OL3 (Finnish) contract," Areva said.
Areva confirmed its targets for the year as it posted first-half operating profit of 539 million euros, up from 207 million a year earlier.
First-half net attributable profit more than doubled to 760 million euros, up from 295 million in the first half of last year.
The backlog, which rose 13.6 percent to 38.123 billion euros in the first half, has been boosted by stronger demand for nuclear power driven by high oil prices.
"For 2008 as a whole, the group confirms its outlook for a sharp increase in backlog and in revenue and rising operating income," Areva said.
