Vinci 3Q Revenue Up on Strong Airport Business

By Marc Navarro Gonzalez Features Dow Jones Newswires

France's Vinci SA (DG.FR) said on Tuesday that its third-quarter revenue rose 7% from the year-earlier period, bolstered by the expansion of its airport business.

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Vinci's revenue in the third quarter rose to 10.67 billion euros ($12.56 billion), exceeding a consensus forecast of EUR10.39 billion provided by FactSet.

Revenue from Vinci-operated airports rose 31% in the third quarter, while revenue from its toll roads was up 2.4%.

The construction and infrastructure operator confirmed its guidance for 2017 as it expects revenue and net profit to keep growing, driven largely by recently-signed contracts to operate airports in Japan and Brazil.

Despite a weak construction market in France, and government cutbacks on infrastructure spending, Vinci has managed to raise profitability over the past couple of years by expanding abroad in businesses such as airports and toll roads.

The company will pay an interim dividend of EUR0.69 per share on Nov. 9.

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Write to Marc Navarro Gonzalez at marc.navarrogonzalez@dowjones.com

(END) Dow Jones Newswires

October 24, 2017 12:34 ET (16:34 GMT)