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Suez Environment posts sharply lower Q2 profit
by Staff Writers
Paris (AFP) Aug 1, 2012

The French water and waste management group Suez Environment said on Wednesday net profit plummeted in the second quarter by 82 percent from a year ago to 40 million euros hit by a poor economic environment.

Suez said in a statement sales in the April-June period dipped by 0.7 percent to 7.32 billion euros ($9.0 billion) with the company facing a "more difficult macroeconomic context in Europe."

The group nonetheless expressed confidence that it would still achieve its 2012 targets, which the company recently revised lower due to the poor global economy and a 85 billion euro charge on a delayed desalination plant project in Melbourne, Australia.

Despite the crisis in the Europe, "the fundamentals across all sectors are good" and in the long term "our earnings outlook remains solid," chief executive Jean Louis Chaussade said in a conference call.


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Japan firm says China waste claims 'groundless'
Tokyo (AFP) July 30, 2012
A Japanese paper firm whose factory was at the centre of deadly weekend protests in China said Monday it was concerned about the demonstration, but rejected pollution claims as "groundless". Up to three people were killed, scores injured and up to 100 detained in Qidong, said rights watchdog Chinese Human Rights Defenders after tens of thousands of protestors clashed with police, overturned ... read more

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