Bouygues builds up construction profits in Q3

7th December 2006, Comments 0 comments

PARIS, Dec 7, 2006 (AFP) - French conglomerate Bouygues said Thursday that its net profit in the third quarter of the year rose by 42 percent, driven by the strong growth of its construction and roadworks businesses.

PARIS, Dec 7, 2006 (AFP) - French conglomerate Bouygues said Thursday that its net profit in the third quarter of the year rose by 42 percent, driven by the strong growth of its construction and roadworks businesses.

Net profit totalled EUR 923 million in the period on sales of 19.1 billion euros.

Net profit at Bouygues Construction rose 35 percent to EUR 178 million, while the Colas roadworks unit reported a 4.9-percent rise to EUR 293 million.

Bouygues is a diversified group with media, telecom and retail estate assets in addition to its construction business.

The group also raised its sales forecasts for this year to 26.16 billion euros from a previous EUR 25.95 billion, announced in September.

It added that its recently acquired 25.1-percent stake in French engineering group Alstom would be included in its accounts from the fourth quarter of 2006.

The two groups are "stepping up commercial and operating cooperation", Bouygues said, adding that Alstom chief executive Patrick Kron had joined the Bouygues board of directors.

Bouygues recently raised its stake in Alstom to 25.07 percent after acquiring a 21.0-percent stake in Alstom from the French government in June.

The recent share purchases have increased speculation that Bouygues might launch a full takeover bid for Alstom, which was rescued by the French government from near financial collapse in 2004.

Copyright AFP

Subject: French news

 

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