Bouygues 2012 profit drops on tough telecom market

PARIS Wed Feb 27, 2013 1:14am EST

PARIS Feb 27 (Reuters) - Bouygues said on Wednesday that 2012 net profit slumped 41 percent to 633 million euros ($827 million), reflecting a tough mobile telecoms market and a challenging economy.

The French construction-to-telecom conglomerate, however, said 2012 sales exceeded its initial target, rising 3 percent to 33.5 billion euros, compared with a Thomson Reuters I/B/E/S analyst poll average of 33.3 billion. ($1 = 0.7649 euros) (Reporting by Elena Berton; Editing by James Regan)