Suez Environnement net income drops 14%

Suez Environnement SA, Europe's second-biggest water company, said first-half profit fell 14 percent on costs related to spinning off the unit from Suez SA.

Net income dropped to 201 million euros from 233 million euros a year earlier, the Paris-based company said yesterday in an e-mailed statement.

Earnings before interest, tax, depreciation and amortization increased by 5.2 percent to 1.01 billion euros, in line with a median estimate of seven analysts. Suez Environnement maintained its financial target for this year and through 2010.