The increase in consolidated sales is 1% like-for-like and at constant exchange rates. Net profit attributable to the group stood at €794m. The -€129m decrease in net profit compared with the first nine months of 2010 was mainly due to a lower contribution from Alstom.
The construction businesses improved profitability. The order intake for the third quarter of 2011 remained buoyant and the order book remained at a high level. Bouygues Construction posted a 4% increase in sales to €7,086m, with increases of 3% in France and 6% on international markets. The operating margin stood at 3.8. Net profit rose 11% to €159m. Order intake was €8.3bn over the first nine months of 2011 and the order book of €15.3bn was up 7% compared with the end of September 2010.
Bouygues Immobilier reported a 12% decline in sales to €1,548m, down 1% in residential property and down 52% in commercial property). The pick-up in residential property was confirmed with a third-quarter rise in sales of 11%, compared with 2% in the second quarter and a fall of 14% in the first quarter of 2011. The operating margin was firm at 8.2% and net profit amounted to €78m. After a record 2010, residential property reservations remained at a high level and reached €1,530m with third-quarter 2011 growth of 12%. Overall reservations grew 8% to €1,868m in the first nine months of 2011. The order book was up 20% on the end of September 2010 to €2.6bn.
Colas recorded a 4% rise in sales to €9,168m, up 9% in France and down 1% on international markets. Current operating profit came to €274m - up 17% - and the current operating margin to 3%. While operating profit increased 31% to €274m, net profit advanced 33% to €209m. The order book was up 2% compared with the end of September 2010.
Alstom's contribution to Bouygues' net profit came to €134m in the first nine months of 2011, compared with €239m for the first nine months of 2010. In third quarter 2011, it improved €17m to a total of €40m. Order intake grew 45% in the first half of the 2011/12 financial year to €10.2bn. Alstom confirmed its operating margin target of between 7% and 8% for the financial year 2011/12.
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