The firm added that following the sale of the interests in the water companies Utilities Inc., Cascal, Vitens and Paques (purification systems), the disposal of non-core assets has now been virtually completed with positive transaction results.

Turnover rose to E3.2 billion from E2.6 billion in Q2 2005. This was mainly due to increases in raw materials prices. The operating profit improved to E663 million from E521 million, while the net profit after taxation worked out at E554 million from E325 million a year earlier.

These results confirm that Nuon is on track. The disposal of non-core assets has now been virtually completed, commented Ludo van Halderen, chairman of Nuon’s management board.

Nuon’s financial position is solid and we are showing good financial and operational results. The improvement of our most important customer processes is in full swing and will be given even more emphasis over the course of the year. In the second half our cost reduction programs and efficiency improvements will be continued with undiminished vigor, he added.