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Budapest water works H1 profit well over target

Fővárosi Vízművek Rt, the water works for the city of Budapest, had profit of Ft 634 million on revenue of Ft 12 billion in the first half of 2005, the company announced on Monday. Profits were almost three times over the target. The company spent Ft 1.8 billion on investments during the period, less than the planned Ft 2.7 billion. The company also reduced the cost of a Ft 900 million overhaul by 21%, and the cost of Ft 1 billion worth of repairs by 10%. Fővárosi Vízművek is owned by the City of Budapest, Germany's RWE Aqua and France's Suez Environment.