Strong growth at Amey and construction division also helps propel net profit by 21% to £223m
Spanish construction firm Ferrovial has posted a strong set of results for the first nine months of 2006, thanks in part to its acquisition of UK airports group BAA in June.
Net profit grew 21% to £223m for the nine months to 30 September. Earnings before interest, tax, depreciation and amortisation was £1.09bn, a rise of 86% on the same period last year while revenue increased 46% to £6.1bn.
Construction is the group's biggest division. It generated a 18% increase in revenue to £2.5bn. The company said this was down to a good performance in Spain and Portugal as well as the acquisition of Texan construction company Webber.
Infrastructure, which includes BAA, saw revenues soar 204.5% to £1.2bn. This was boosted by the BAA acquisition which accounted for 60% of revenues in this division.
Amey, the group’s services arm, produced a 46% increase in revenue to £2bn. Real estate account for £432m.