November 15, 2018 / 6:35 AM / a month ago

French group Bouygues maintains toned-down outlook as 9-month profits fall

PARIS, Nov 15 (Reuters) - French conglomerate Bouygues reported a well-flagged decline in nine-month operating profits, as difficulties at its construction business offset a further improvement at its telecoms arm.

The family-controlled group, which also builds roads and owns France’s biggest private TV broadcaster TF1, kept its revised 2018 guidance for a stable or slightly lower current operating profit at group level.

Nine month revenues rose 6 percent to 25.219 billion euros ($28.59 billion), although current operating profits fell 12.1 percent to 820 million euros.

This was, however, above a company-compiled consensus of analysts’ expectations for a current operating profit of 797 million euros and sales of 24.785 billion euros.

$1 = 0.8822 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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