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| Hochtief confirms its earnings forecast For the current fiscal year, the Hochtief Construction Services Europe division expects a negative profit before taxes of up to EUR 120 million (Q1 2007: a negative of approx. EUR 25 million). This figure is mainly due to substantial cost increases in the subcontractor and material segments in the German building construction sector. According to the latest forecast, however, this loss can be compensated by the in some cases considerable profit increases in the group's other divisions. In this regard, the Executive Board confirms the group earnings forecast for the current fiscal year. In the first quarter of 2007, the group improved profit before taxes to approximately EUR 66 million (2006: EUR 50.2 million) and increased consolidated net income to about EUR 9.6 million (2006: EUR 8.6 million). write your comments about the article :: © 2007 Construction News :: home page |