RUEIL-MALMAISON (dpa-AFX) - Vinci SA (VCISY.PK) Thursday said its first-quarter revenues grew 6 percent from last year, driven mainly by its contracting business. The company also reported a solid growth in its order book. Moving ahead, the French construction behemoth expects its full-year 2012 revenues to grow slightly.
Vinci's first-quarter consolidated revenues grew 6 percent to 8.15 billion euros from 7.69 billion euros last year.
Revenues from contracting business, which includes Energy business line, Eurovia, and Vinci Construction, increased 4.7 percent to 6.87 billion euros. On a comparable basis, revenues improved 3.9 percent.
Revenue from Concessions segment for the first quarter rose 2.1 percent to 1.17 billion euros from last year, with Vinci Autoroutes' advancing 1.4 percent.
Revenue from France for the quarter increased 8.1 percent to 5.36 billion euros from last year, and 8.4 percent on a comparable basis. Outside France, revenues rose 2.2 percent to 2.8 billion euros, and was stable on a comparable basis.
Order intake for the first quarter increased 14 percent year-over-year to 8.6 billion euros, and drove the order book up to a new record high of 32.6 billion euros.
Looking forward, the company now expects full-year 2012 sales to slightly increase. Vinci in a statement said, 'Against this backdrop and given the level of Contracting activity during the 1st quarter, the Group could experience a slight increase in its overall full year 2012 revenue, with the objective of keeping its operating margins at the good levels achieved in 2011.'
Only two months earlier, while reporting its full year results, Vinci said it expects business to be flat due mainly to crisis surrounding the European region.
VCISY.PK is trading at $11.38, down $0.09 or 0.78%.
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© 2012 AFX News
