Veolia sees foreign deals boosting revenue, no Brexit fear

* No further French restructuring planned for now

* Brexit is currency neutral for Veolia

* Veolia confirms guidance, shares up strongly

* Major international deals to boost H2 revenue (Adds detail on new revenue, M&A activity, share price)

By Geert De Clercq

PARIS, Aug 1 (Reuters) - Veolia's first-half net profit fell 29 percent to 251 million euros ($280 million) on French restructuring costs but the water and waste group expects a string of international acquisitions will boost second-half revenue.

Veolia CEO Antoine Frerot said the firm would see the benefit in the second half of a string of international deals which would add more than 500 million euros of annual revenue.

Frerot said a Prague heating network contract would yield yearly revenue of about 50 million euros, a Sao Paulo landfill about 30 million euros and a water treatment contract with China's Sinopec (HKSE: 0386-OL.HK - news) 130 million per year.

In the first half Veolia also bought U.S (Other OTC: UBGXF - news) . radioactive waste specialist Kurion, with revenue of about 100 million euros, and the sulphur recycling unit of Chemours (Berlin: 28467212.BE - news) , with revenue of about $280 million (251 million euros).

"Those five big deals have contributed little to first-half revenue, but will contribute fully to the second half, which should see significantly better growth," Frerot said.

He also said the new acquisitions' profitability is above group average.

Veolia shares rose 3.4 percent in early trade as it said it would easily meet guidance for current net income of at least 600 million in 2016, and confirmed its outlook for current net of 800 million in 2018.

Veolia said Britain's planned EU exit would have little impact on its business in the UK, where it earns annual revenue of about 2 billion pounds ($2.65 billion).

"Production costs and sales are in the same currency, so we are not getting squeezed," Frerot said.

Even (Taiwan OTC: 6436.TWO - news) if a potential British recession reduced household waste production, industrial waste should not be affected as a lower pound would make exports more attractive.

Frerot said business remains difficult in France, where the firm booked 63 million euros in charges for voluntary redundancies in its water business, but he does not expect further restructuring there.

Because of low inflation, French water tariffs are not increasing, but Veolia's costs do. It (Other OTC: ITGL - news) has also been hit by water contract renegotiations, low energy prices and low scrap metal prices. Core French earnings fell 10.7 percent to 353 million euros.

Veolia expects to book significant capital gains on its Transdev unit, which is valued at 460 million euros in its accounts and will be sold to state bank CDC for 550 million.

First (Other OTC: FSTC - news) -half revenue fell 2.9 percent to 11.96 billion euros while core earnings rose 3.2 percent to 1.58 billion. ($1 = 0.8959 euros) ($1 = 0.7557 pounds) (Reporting by Geert De Clercq; Editing by Andrew Callus, Susan Thomas and Adrian Croft)