Do More With Reuters

Tecnicas Reunidas' Q1 net profit rises 35 pct

Tue May 13, 2008 12:47pm IST
 
Email | Print | | Single Page
[-] Text [+]

MADRID, May 13 (Reuters) - Spanish engineering firm Tecnicas Reunidas (TRE.MC: Quote, Profile, Research) said on Tuesday net profit in the first quarter rose 35 percent to 32 million euros ($49.5 million).

Revenue grew 32 percent to 580 million euros while EBITDA (earnings before interest, taxes, depreciation and amortisation) climbed 39 percent to 34 million.

In the first quarter, Tecnicas Reunidas won deals to work on refinery projects for Repsol in Spain and Hellenic Petroleum in Greece. It said its backlog was now 39 percent higher than a year ago at 4.6 billion euros.

At 0713 GMT, Tecnicas Reunidas shares were up 0.75 percent at 53.40 euros. (Reporting by Sarah Morris; editing by Sue Thomas)

 
Photo

Catch the latest news, pictures, stats and live race commentary on our special Formula 1 page.  Full Coverage 

Photo

Record oil prices, rising inflation and political uncertainty is spooking investors and the markets. Track the latest on our markets page.  Full Coverage 

Photo

Catch the latest as India acts to quash inflation and guard food supplies.   Full Coverage 

Photo

India and South Asia market Technical Analysis with Phil Smith

REUTERS POLL

What concerns you more:
Nuclear deal
Price rise
Indian cricket team's performance
Symbol Bid Ask
BRENT CRUDE $0.00 $0.00
GOLD $0.00 $0.00
SILVER $0.00 $0.00