Veolia Environment Profits Up by 70%

Veolia Environment reported a net profit of €374m ($496m) during the first half of 2010, up by 70% from the €220m ($292m) profit it made a year earlier.

The Paris-based water major’s operating income rose to €1.13bn ($1.5bn) from €1.01bn ($1.34bn) in 2009.

Veolia’s sales, however, fell to €17.2bn ($22.83bn) compared with a sales figure of €17.4bn ($23bn) it registered a year ago.

The company’s net debt also widened to €16bn ($21.24bn) from €15.4bn ($20.44bn) at the end of March.

Veolia supplies water to 110 million people worldwide and collects and manages refuse for about 50 million people.