PARIS, Aug 28 (Reuters) - French infrastructure-to-telecom group Bouygues raised its annual sales target by 150 million euros to 32.8 billion euros as it saw a slight rise in sales in the first half helped by its construction business.
But its telecom unit, an important driver of group profit, continued to struggle under intense competition from new low-cost mobile player Iliad, causing a 57 percent drop in net profit in the first half compared with the same period a year earlier.
The group’s first half revenue rose 2 percent to 15.5 billion euro, while operating profit fell 37 percent to 476 million hit hard by weakness in telecom. Net profit fell 29 percent to 278 million euro.
Analysts expected first half revenue of 15.38 billion euro, operating profit of 529 million euro, and net profit of 310 million euro.
Reporting by Leila Abboud; editing by Dominique Vidalon