BREAKING NEWS

Airports and road tolls boost Vinci's quarterly sales

Airports and road tolls boost Vinci's quarterly sales
FILE PHOTO: A man waits with his luggage at Gatwick Airport in southern England, Britain, May 27, 2017. REUTERS/Hannah McKay -
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HANNAH MCKAY(Reuters)
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PARIS (Reuters) – French construction company Vinci said sales in the first nine months of the year rose 11% to 34.9 billion euros thanks to a solid performance from its airports and motorway concessions, and the firm confirmed its forecasts for higher full-year net income and revenues.

Vinci, which bought a majority stake in Britain’s Gatwick airport in December, said third-quarter sales rose 12.4% to 13.1 billion euros on an actual basis and rose 6.3% on a like-for-like basis.

Vinci <SGEF.PA> has been expanding into faster-growing and more profitable concessions such as airports and motorways, as well as engineering projects for the energy industry, to counter weakness elsewhere in the construction sector.

(Reporting by Dominique Vidalon; Editing by GV De Clercq)

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