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| Bouygues reports results for the first nine months of 2010 Bouygues, French construction, telecom and media group, sales were stable over the first nine months of 2010 at €23,067 million. Current operating profit amounted to €1,328 million, down 9%, and operating profit to €1,398 million, down 4%. Operating profit includes non-current items at TF1 and Colas totalling €70 million. Net profit amounted to €923 million, down 10%. The financial situation is very sound, with a sharp reduction in net debt to €3.8 billion, €1.4 billion less than at end-September 2009. Sales at Bouygues Construction at end-September 2010 were in line with the target for the year at €6,801 million, down 5%. The operating margin was virtually stable at 3.5% over the first nine months of 2010, continuing the trend in the first half of the year. Net profit declined 23% to €143 million, notably impacted by falling interest rates. Bouygues Immobilier achieved a better-than-expected performance. Sales fell 18% to €1,769 million. The operating margin rose by 1.4 points to 8.5% over the first nine months of the year, boosted by improved profitability in the residential property segment. Net profit amounted to €77 million, down 10%. Results at Colas in the first nine months were in line with the trends announced on 31 August 2010. Sales amounted to €8,785 million (up 1% and down 2% like-for-like and at constant exchange rates). The current operating margin stood at 2.7%, 1.9 points lower than at end-September 2009, impacted by the deterioration of activity in Central Europe and by competitive pressure, especially in France. Operating profit fell 48% to €209 million. write your comments about the article :: © 2010 Construction News :: home page |