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| Bouygues reports first half 2009 results French construction giant Bouygues said sales remained at a high level in first-half 2009, down 2% to €14.9 billion. Operating profit came to €789 million, down 28%, and net profit to €547 million, down 22%. Results moved in a more favourable direction in second-quarter 2009 than in first-quarter 2009. Bouygues Construction reported sales of €4,758 million, an increase of 4% or 3% like-for-like and at constant exchange rates. Growth was 2% in France and 5% internationally. The operating margin of 3.4%, down 0.6 points on first-half 2008, was impacted essentially by difficulties with the Gautrain rail link project in South Africa. Net profit amounted to €121 million, down 26% due mainly to the decrease in interest rates, which weighed on financial income. Bouygues Immobilier recorded sales of €1,433 million, up 10% or 9% like-for-like and at constant exchange rates thanks to reservations from previous years. Promotional efforts on residential programmes continued to weigh on the operating margin, which fell 2.1 points year-on-year to 7.3%. Net profit was €60 million, compared with €61 million in first-half 2008. Residential property business activity rose sharply on first-half 2008, with 4,916 homes sold in France — up 20%. Commercial property reservations remained very low. Overall, the order book came to €2.7 billion, down 7% on end-March 2009. Road builder Colas posted sales of €5,116 million, down 9% or 10% like-for-like and at constant exchange rates owing to poor weather conditions in the first quarter, the postponement of French local authority investment pending implementation of the stimulus plans and a tough comparative in the second quarter of 2009 reflecting the delivery of major projects a year earlier. Sales declined 11% in France and 6% internationally, affecting the operating margin and net profit, which respectively came to 1.5% — down 1.3 points on first-half 2008 — and €58 million — down 55%. write your comments about the article :: © 2009 Construction News :: home page |