Suez Environment Profits Double

Suez Environment’s profits doubled to €386m ($509m) in the first half of 2010 compared with €175m ($230m) a year earlier, the company announced.

The Paris-based water company’s EBITDA gained 9.6% to stand at €1.04bn ($1.37bn) while sales climbed 12% to €6.6bn ($8.7bn).

Europe’s second-largest water company said its first-half EBITDA rose 18% at the international division after it built a desalination plant in Melbourne, Australia, and increased volume and prices in China.

The French water utility also made capital gains on its acquisition of Agbar and some French water companies.

Suez Environment had a net debt of €8.29bn ($10.9bn) at the end of June, according to Bloomberg.