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Bouygues warns on 2014 sales as telecom price war weighs
August 28, 2014 / 5:46 AM / 3 years ago

Bouygues warns on 2014 sales as telecom price war weighs

PARIS, Aug 28 (Reuters) - French diversified group Bouygues lowered its sales forecast on Thursday after it posted weaker than expected first-half profit, hit by its aggressive pricing strategy in telecoms and a sluggish road-building business.

First-half current operating profit fell 61 percent to 134 million euros ($177.05 million) as sales edged up 1 percent to 15.18 billion, the group said. That compared with an average estimate of 178 million in current operating profit and 15.07 billion in sales in a company-provided poll of eight analysts.

Bouygues, which had previously expected roughly stable group sales this year, said it now expects sales to be down 1 to 2 percent as a price war rages in French telecoms and orders wane at its domestic construction business. (1 US dollar = 0.7568 euro) (Reporting by Natalie Huet; Editing by Andrew Callus)

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