FRANKFURT (Reuters) - German construction firm Hochtief (HOTG.DE) confirmed its outlook on Tuesday thanks to a rise in margins and sales in the second quarter and as the company’s order backlog increased by 7 percent.
Sales increased by 1.2 percent in the quarter, to 5.94 billion euros ($6.95 billion), while net profit increased to 131 million euros, from 100.8 million euros in the year-earlier period.
Hochtief’s new orders fell 3.3 percent in the second quarter, to 6.08 billion euros, while its order backlog increased by 7 percent, to 45.58 billion euros, the company said.
Hochtief confirmed its guidance for an operational net profit in 2018 in the range of 470–520 million euros.
Reporting by Edward Taylor; Editing by Douglas Busvine