Bouygues reports profit increase in first nine months of 2018
Bouygues Group reported a net profit of 772 million euros for the first nine months of 2018, an increase of 83 million euros year-on-year. The group's sales grew by 6%.
French conglomerate Bouygues reported a significant profit increase for the first nine months of 2018, with net profit attributable to the Group reaching 772 million euros, up 83 million euros from the previous year. Group sales increased by 6% to 25.2 billion euros.
The company's construction businesses saw their order backlog reach a record 33.8 billion euros at the end of September 2018, a 13% increase year-on-year. Bouygues Telecom's results strengthened considerably in a competitive telecom market, and TF1's advertising revenue grew by 7% in the third quarter.
Current operating profit, however, decreased to 820 million euros from 933 million euros in the same period last year. This decline was attributed to difficulties in completing three projects within the construction segment and challenges in Colas' specialized activities in France. Bouygues Telecom and TF1 showed positive performance.
Bouygues confirmed its outlook for the full year 2018, expecting current operating profit to remain stable or slightly lower compared to 2017. The company anticipates a slight decrease in current operating profit and margin for its construction businesses but expresses confidence in its strong position in the global construction market. Bouygues Telecom is expected to continue its profitable growth.