Water group Suez Environnement posts lower profit for 2012

14th February 2013, Comments 0 comments

French water and waste management utility Suez Environnement said Thursday net profit in 2012 fell 22 percent to 251 million euros ($330 million) in line with analyst forecasts.

Sales were up 1.8 percent to 15.1 billion euros in the 12-month period, the company said, slightly higher than expected though shares in Suez fell by 3.7 percent in a Paris stock market down 0.81 percent.

"In 2012, Suez Environnement achieved a solid operational performance, notably in water and internationally, in a challenging economic context in Europe," chief executive Jean-Louis Chaussade said in a statement.

The company said it was forecasting a surge in profit for 2013 through cost saving despite a continued "uncertain macroeconomic environment in Europe."

© 2013 AFP

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