MADRID May 14 Spanish industrial contractor
Tecnicas Reunidas on Wednesday said its first-quarter
net profit had fallen 7.4 percent from a year ago to 32 million
euros ($44 million), as its portfolio of projects shrank
The company, which makes around 80 percent of revenues
outside Spain, said its existing contracts and pipeline of deals
was 6.23 billion euros in the period, down 5.7 percent from the
first quarter of 2013.
But Tecnicas Reunidas, which was awarded a contract worth
$1.7 billion in Saudi Arabia earlier this month, said the
portfolio at present was 7.5 billion euros.
Earnings were slightly below the 33.7 million euros profit
forecast on average by six analysts in a Reuters poll.
($1 = 0.7296 Euros)
(Reporting by Sarah White, Editing by Mark Potter)