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Bouygues blames weather as group construction profit dips

Profit at Bouygues’ group construction division fell 15 per cent in the first half of 2018, the firm’s latest results have revealed.

The French giant’s construction arm saw operating profit slide to €196m (£176m) in the six months to 30 June, down 15 per cent from the €167m (£150m) posted for the same period of 2017.

Commenting on the results, Bouygues pointed to the adverse impact of poor weather across Europe in the first quarter.

The multinational firm added that it had also experienced “difficulties in completing three energies and services projects in Ireland and the United Kingdom”.

Revenue at Bouygues Construction for the half-year was relatively flat at €5.71bn (£5.13bn), compared with €5.72bn (£5.14bn) in H1 2017.

Bouygues said its order book hit a record high of €33.7bn (£30.2bn) for the first half of 2018, up 9 per cent year on year.

The company cited its €134m (£120.4m) deal to build Cardiff University’s innovation campus (pictured) as one of the key contracts signed during the second quarter.

Bouygues said it would continue to pursue a selective strategy in terms of bidding with a focus on profitability over volume.

Earlier this month, CN exclusively revealed Bouygues’ decision to change its UK chief executive and chief financial officer, replacing them with internal appointments.

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