UPDATE 2-Vinci maintains 2008 targets after sales rise

* Nine-month revenue up 13.2 pct at 24.7 billion euros

* Third quarter sales up 10 percent

* Reduction of debt and improved liquidity

* 2008 objectives for revenue, margins and debt confirmed

* Share jumps some 6 percent (Adds further details)

PARIS, Nov 14 (Reuters) - The world's largest public works and transport concessions group Vinci (SGEF.PA) on Friday held its 2008 targets after nine-month sales rose 13.2 percent and said it had no significant refinancing needs until 2012.

The group made third-quarter sales of 8.95 billion euros ($11.18 billion), up 10 percent, which compares with an average expectation by four analysts of 8.67 billion.

Its share price jumped over 6 percent to 29.34 euros in early trading while smaller rival Eiffage, which had warned of a slowing orderbook last week, gained 3.7 percent.

Vinci mainly has long-term projects -- such as toll road projects -- which do not react rapidly to an economic slowdown.

Vinci recently completed financing for the Athens, Patras, Tsakona road in Greece and the Prado South tunnel at Marseille.

It is preferred bidder for the Antwerp ring road and runs a railroad in the Belgian port city

At the toll road operating units sales rose 3.6 percent, but Vinci said that in a recessionary environment traffic was slowing.

CIC-CM analyst Jean-Christophe Lefevre-Moulenq said that while the toll road usage revenues slowed down as expected, the other operations did well and he reiterated a buy advice.

He said the 45 percent share price fall this year showed the market was not fully pricing in the value of the transport concession operations. It has a market value of some 29 billion euros.

Vinci said in a statement the flow of orders recorded by the contracting divisions Vinci Construction, Eurovia and Vinci Energies remained sustained in the third quarter of 2008.

As a result the order book rose by more than 12 percent from the start of the year to 24.1 billion euros at the end of September 2008, representing more than 10 months' average activity for those divisions.