PARIS (dpa-AFX) - French construction services provider Bouygues SA (BOUYY.PK) Wednesday reported 75 percent fall in fourth-quarter profit attributable to the group, impacted by its Telecom business unit. The company said 2012 results should mark the low point in its profitability, however expects wider margins for the current year. In Paris, the shares are currently up about 7 percent.
Bouygues noted that as expected, results reflected the upheaval on the French mobile telecoms market and a challenging economic environment. However, the company said the construction businesses enjoy good visibility amid a challenging economic environment,
In the fourth quarter, net profit attributable to the Group plunged to 69 million euros from 276 million euros in the previous year.
Operating profit was 261 million euros, down from 481 million euros a year earlier, which included non-current charges of 105 million euros at Bouygues Telecom and TF1 and 34 million euros of capital gains on asset disposals at Bouygues Telecom.
Quarterly sales slightly declined to 8.95 billion euros from 8.99 billion euros a year ago.
For full-year 2012, net profit attributable to the Group declined to 633 million euros from 1.07 billion euros in the prior year. Operating profit was 1.12 billion euros, down from 1.86 billion euros in the previous year. Annual sales rose 3 percent to 33.55 billion euros.
For full-year 2013, the company expects sales of 33.45 billion euros.
The board is also proposing an unchanged dividend of 1.60 euros per share, to share holders of record on May 3, 2013, payable on May 6.
The company is scheduled to announce its first-quarter 2013 results on May 14.
In Paris, Bouygues shares are currently trading at 20.73 euros, up 6.89 percent, on a volume of 2.24 million shares.
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