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| Hochtief will top forecast pre-tax profit 2005 Hochtief AG, Germany's biggest construction company, will top the forecast pre-tax profit figure in the 2005 annual financial statements: Profit before taxes will grow by more than two-thirds over the prior year. The increase mainly results from a higher profit contribution from the Hochtief Construction Services Asia Pacific division. The Hochtief Construction Services Europe division also yielded a significantly higher result than in the previous year. At its meeting, the Executive Board also decided to make a greater than originally planned precautionary impairment charge on assets recognized in prior years for tax refund entitlements. This means that the previous forecast of Group profit (increase by more than half) remains valid. write your comments about the article :: © 2006 Construction News :: home page |