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Suez Environnment see profits go up

Sita UK’s parent Suez Environnment reported a 6.7% increase in pretax profit (EBITDA) for the first half of the year, despite difficulties in its European waste management arm.

The French waste and water management firm’s pretax profit reached €1.2bn (£1bn) driven by a growth in its international segment, which comprises activities in the Asia-Pacific, Africa, the Middle East and North America regions, according to an interim report.

However, its European waste management business, which included SITA UK’s activities, negatively impacted the company’s performance in the first half of 2013. Pretax profits in the segment went down 1.9% and revenues 4.5%.

The main reasons for the falls were lower volumes and falling prices of secondary raw material, said Suez.

However, it highlighted the UK, Scandinavia, and Central Europe as regions of positive growth within the European waste division. This continued the trend revealed in Suez’s Q1 results, as MRW reported.

In the UK market, Suez singled out these successes: an eight-year contract signed with Durham County Council and the selection of SITA UK as preferred bidder for two public-private partnership projects with Merseyside and the West London Waste Authority.

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