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| Hochtief forecast for 2009 reaffirmed German construction giant Hochtief remains rock steady through the crisis and stands on very sound foundations. Following the close of the second quarter of 2009, the company has once again confirmed its Group forecast for the year as a whole - despite an economic environment marked by extreme investor reluctance. The order backlog grew by a further four percent to reach a new all-time high of EUR 33.11 billion. Despite the difficult overall economic situation, Hochtief held its own in the first half of 2009 and attained profit before taxes of EUR 259.3 million (H1 2008: EUR 292.2 million). This represents a fall of 11.3 percent, though without exchange rate changes the decrease would only have been three percent. Consolidated net profit, at EUR 68.1 million, was 13.9 percent down on the EUR 79 million reported in the prior-year period. New orders totaled EUR 10.1 billion in the period under review, down 18.1 percent on the same period of 2008 (H1 2008: EUR 12.33 billion). write your comments about the article :: © 2009 Construction News :: home page |