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Bouygues increases sales and profit

16 Nov 11 Bouygues has reported a 3% increase in consolidated sales to €23.7bn (£19.7bn), with current operating profit up 1% to €1,338m.

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.   

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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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