February 8, 2018 / 9:35 AM / 18 days ago

French utility Veolia expects growth in business in 2018

PARIS, Feb 8 (Reuters) - French utility Veolia expects to post growth in its business over 2018, the company’s chairman and chief executive Antoine Frérot said at a presentation on Thursday.

Frerot said Veolia was keeping its target for annual sales growth of 2-3 percent, and added that the company was aiming for some 300 million euros ($367 million) in terms of cost savings in 2018.

In November, Veolia said that cost cuts had driven up its core earnings, even as the company’s margins remained under pressure from municipal clients trying to negotiate cheaper water and waste concession contracts.

$1 = 0.8176 euros Reporting by Benjamin Mallet Editing by Sudip Kar-Gupta

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