August 29, 2018 / 4:23 PM / 3 months ago

Eiffage beats expectations as half-year profits surge

Aug 29 (Reuters) - French construction and concessions company Eiffage, on Wednesday reported half-year profits ahead of analysts’ expectations, as results were boosted by the Grand Paris Express contracts and motorway traffic.

Eiffage’s half-year operating profit rose 12.1 percent to 786 million euros ($919.31 million), while sales came in at 7.65 billion euros, an increase of 9.4 percent year-on-year on a reported basis.

Analysts polled by Reuters had forecast first-half operating income of 783 million euros on revenues of 7.37 billion euros.

The group, which is France’s third-largest construction and concessions company behind Vinci and Bouygues , maintained its forecasts for higher revenues and profits in 2018. ($1 = 0.8550 euros) (Reporting by Piotr Lipinski in Gdynia. Editing by Jane Merriman and Kirsten Donovan)

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