French conglomerate's construction arm figures jump 20% to £3.4bn

French conglomerate Bouygues has announced a 15% increase in turnover from £10.4bn (€13.3bn) to £12bn (€15.3bn) in the first half of 2008.

The figure at its construction arm was up by 20% from £2.9bn (€3.7bn) to £3.4bn (€4.4bn) and the group said all businesses had contributed to the “sharp increase”.

Turnover at its road-building Colas division jumped by 14% from £3.8bn (€4.9bn) to £4.4bn (€5.6bn) while its property arm saw sales grow 61% from £633m (€808m) in the first half of 2007 to £1bn (€1.3bn).

Dimitri Y Kallianiotis, City analyst, said: “We believe market concerns of a sharp decline in Bouygues operations due to current economic slowdown to be overdone.

“Bouygues remains well positioned in all of its markets and should continue to gain market share.”