PARIS, Nov 17 (Reuters) – French construction-to-telecoms conglomerate Bouygues said sales rose 4 percent in the first nine months of the year from a year earlier, driven by its road-building business.
Group sales rose to 29.7 billion euros ($30.85 billion) in the period from 27.5 billion euros a year earlier, beating analysts’ consensus of 29.3 billion euros compiled by the company.
Core operating profit for the period reached 1.21 billion euros, broadly in line with market expectations.
“Road activity once again benefited from good business momentum, especially in Europe and North America, exacerbated by inflation,” Bouygues said in a statement about its road construction unit Colas.
Sales generated by Colas in 2022 will be “significantly higher” than in 2021, thanks to contributions from Destia, Finland’s largest infrastructure services company, and higher prices for products and services, Bouygues said.
However, the group said the current high inflation environment made setting a 2023 profit target for Colas irrelevant.
Bouygues confirmed the group’s full-year targets, which include growth in sales and current operating profit.
($1 = 0.9628 EUR)
Reporting by Mathieu Rosemain, Editing by Tassilo Hummel
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