UPDATE 3-Hochtief gears up for unit IPO, tweaks FY outlook

Thu Nov 12, 2009 5:18pm GMT
 
Email | Print | | Single Page
[-] Text [+]

* Q3 new orders 7.2 bln eur, above Rtrs poll avg of 5.8 bln

* Q3 EBT up 16.6 pct at 141.9 mln eur, above Rtrs poll avg

* Lifts outlook for full-year order backlog

* CEO says Q4 so far on track

* Shares close down 1.8 percent amid confusion over guidance

(Adds comment from source on IPO timing)

By Eva Kuehnen

FRANKFURT, Nov 12 (Reuters) - Hochtief (HOTG.DE) tweaked up its 2009 outlook and expects global economic stimulus packages to boost next year's results, it said on Thursday, preparing the ground for a listing of its Concessions unit later this year.

"For our company, I expect economic stimulus programmes to significantly make an impact next year," said Chief Executive Herbert Luetkestratkoetter.  Continued...

 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos