Sun. Feb 5th, 2023

PARIS, Nov 17 (Reuters) – French construction-to-telecoms conglomerate Bouygues mentioned its gross sales grew by 4% on a like-for-like foundation over the primary 9 months of yr, pushed by its road-building enterprise.

Group gross sales superior to 29.7 billion euros ($30.85 billion)over the interval from 27.5 billion a yr earlier, beating the 29.3 billion-euro analyst consensus compiled by the corporate.

Core working revenue reached at 1.21 billion euros over the identical interval, roughly consistent with market expectations.

“Roads actions once more benefited from good business momentum, particularly in Europe and North America, which was enhanced by inflation,” Bouygues mentioned in an announcement, with reference to its road-building division Colas.

Bouygues mentioned gross sales generated by Colas in 2022 could be “considerably larger” than in 2021 because of the contribution of Destia, Finland’s largest infrastructure service firm, and value will increase on services.

But the group flagged that the present high-inflationary atmosphere made it irrelevant to provide a profitability goal for Colas in 2023.

Bouygues confirmed its full-year targets for the group, which embrace a rise in gross sales and present working revenue.

($1 = 0.9628 euros)

Reporting by Mathieu Rosemain, enhancing by Tassilo Hummel

Our Requirements: The Thomson Reuters Belief Rules.

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