May 14, 2018 / 4:00 PM / 2 years ago

Construction group Eiffage keeps 2018 goals as first quarter sales rise

FILE PHOTO: The logo of French construction group Eiffage is seen at a job site in Paris, France, February 26, 2016. REUTERS/Charles Platiau

PARIS (Reuters) - French construction group Eiffage (FOUG.PA) kept its 2018 targets for higher revenues and profits after it reported a 5.6 percent rise in first quarter sales.

Eiffage, which is France’s third-largest construction and concessions company behind Vinci (SGEF.PA) and Bouygues (BOUY.PA), said revenue reached 3.379 billion euros ($4.1 billion), a 4.3 percent rise on a like-for-like basis.

Eiffage’s order book for contracting stood at 14.1 billion euros, a 23 percent rise from the previous year, with almost 1.9 billion euros of orders taken for the Grand Paris Express project, which entails various developments for the capital.

Last month, rival Vinci posted a 4.9 percent rise in first-quarter sales, helped by acquisitions, robust concessions activity and a recovery in the French construction market.

Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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