Colas: interim loss deepens; management cautious.
(CercleFinance.com) - The specialist in the construction of infrastructures (mainly roads), Colas finished H1 2017 with a bigger loss, partly - although not just - because the seasonal nature of its business.
Management of the group, which is almost entirely owned by Bouygues, is also a little more cautious regarding the group's outlook.
Over the first half of the year, Colas' sales increased by 7% to five billion euros, both in France and abroad. Its underlying operating loss, which is particularly related to the highly seasonal nature of its business, rose from 85 million to 136 million euros, resulting in a net loss, group share, which rose 23.9% to 88 million euros.
Note that beyond seasonality, Colas has also pointed out a delay in business in North America and a more difficult French rail market for Colas Rail - particularly in terms of freight.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Management of the group, which is almost entirely owned by Bouygues, is also a little more cautious regarding the group's outlook.
Over the first half of the year, Colas' sales increased by 7% to five billion euros, both in France and abroad. Its underlying operating loss, which is particularly related to the highly seasonal nature of its business, rose from 85 million to 136 million euros, resulting in a net loss, group share, which rose 23.9% to 88 million euros.
Note that beyond seasonality, Colas has also pointed out a delay in business in North America and a more difficult French rail market for Colas Rail - particularly in terms of freight.
Copyright (c) 2017 CercleFinance.com. All rights reserved.