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Bouygues posts higher 2013 operating profit, sales dip
February 26, 2014 / 6:46 AM / 4 years ago

Bouygues posts higher 2013 operating profit, sales dip

PARIS, Feb 26 (Reuters) - French construction-to-telecoms conglomerate Bouygues posted a 5 percent rise in full-year operating profit on Wednesday, as cost cuts offset a slump in revenue at its phone and television units.

The group, which also operates road-building and television broadcasting businesses, said current operating profit reached 1.34 billion euros ($1.84 billion) last year on sales of 33.3 billion, down 1 percent.

Analysts polled by Reuters on average expected operating profit of 1.3 billion euros on sales of 33.2 billion.

Bouygues posted a full-year net loss of 757 million euros, however, following a 1.4 billion euro writedown on its 29 percent stake in train and turbine maker Alstom. ($1 = 0.7282 euros) (Reporting by Natalie Huet; Editing by James Regan)

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