May 17, 2018 / 5:43 AM / 3 months ago

Conglomerate Bouygues posts worse-than-forecast Q1 results

PARIS, May 17 (Reuters) - French conglomerate Bouygues posted a worse-than-expected first quarter group operating loss as poor weather in Europe hurt the performance of its road construction arm Colas.

The company’s telecoms arm, however, further improved its performance and the French conglomerate stuck to its prediction for a further rise in profits over the full year.

Bouygues, which failed to merge its telecoms unit with market leader Orange two years ago, said it should continue to improve its profits in 2018.

The family-controlled Bouygues group, which also builds roads and owns France’s biggest private TV broadcaster TF1 , said first-quarter revenue reached 6.826 billion euros ($8.1 billion), down from 6.837 billion a year ago.

Its current operating loss also widened to 111 million euros from a 75 million loss a year earlier.

According to a company compiled poll of 12 analysts, the median forecasts for Bouygues had predicted quarterly sales of 6.913 billion euros and a current operating loss of 101 million.

$1 = 0.8460 euros Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta

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