Bouygues raises 2011 sales target to 32.2 bn euros

15th November 2011, Comments 0 comments

French conglomerate Bouygues, active in construction, real estate, media and telecommunications, raised its 2011 sales target to 32.2 billion euros ($43.6 billion) thanks to a strong order book.

"What makes us optimistic is the level of orders which is excellent," financial director Philippe Marien said in a conference call following publication of third quarter results.

Construction orders stood a 15.3 billion euros at the end of September, a 7.0 percent gain from one year ago, while the gain was 20 percent for its property unit.

Overall, third-quarter sales rose 1.0 percent to 8.5 billion euros. Over the first nine months of the year the gain was 3.0 percent to 23.7 billion euros.

Third quarter net profit rose by three percent to 403 million euros. Over the nine months net profits slid 14 percent to 794 million euros, mostly due to less earnings from its stake in engineering group Alstom.

© 2011 AFP

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