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Spain's Sacyr nine-month loss beats forecasts
November 14, 2012 / 4:43 PM / 5 years ago

Spain's Sacyr nine-month loss beats forecasts

MADRID, Nov 14 (Reuters) - Builder Sacyr Vallehermoso posted a nine-month net loss of 701 million euros ($892.27 million) on Wednesday after a writedown of its stake in oil firm Repsol and compared to a 34 million euro profit in the same period last year.

The loss was not as steep as expected by analysts, with consensus pointing to a loss of 750 million euros.

The company reported nine-month earnings before interest, taxes, depreciation and amortization (EBITDA) of 399 million euros, above analyst estimates of 387 million euros. ($1 = 0.7856 euros) (Reporting by Clare Kane; Editing by Paul Day)

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