July 26, 2019 / 5:59 AM / 4 months ago

Utility Suez's first-half net profits rise, company keeps financial targets

FILE PHOTO: People are silhouetted in front of the new logo of French waste and water company Suez Environnement during a presentation in Paris, March 12, 2015. REUTERS/Christian Hartmann

PARIS (Reuters) - French waste and water group Suez (SEVI.PA) said first-half net profits more than doubled to 212 million euros ( £189.6 million ) thanks to a 145 million euro positive impact from a court ruling in its favour over a dispute on a contract it had in Argentina.

First-half revenue rose 3.7% to 8.66 billion euros.

Core earnings before interest, tax, depreciation and amortisation (EBITDA) rose 15% to 1.52 billion and its EBIT (earnings before interest and tax) rose 6.2% to 645 million.

Suez confirmed its targets for 2019 organic revenue growth of 2-3 percent and organic EBIT growth of 4-5 percent.

The company also said it would present a new strategy plan by October 30.

Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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