The company had previously looked to reduce turnover as it aimed to become more selective in the jobs it took on
The French parent company of Vinci UK has predicted a boost in both profit and revenue this year, as revenue stabilises at its British construction business.
Vinci made the forecast after posting 2018 earnings that were largely in line with forecasts, with net income rising 8.6% to €3bn (£2.6b) in the 12 months to 31 December 2018, while operating profit grew 8.5% to €5bn (£4.4bn). Revenues rose 8.1% to €43bn (£37.8bn).
Xavier Huillard, Vinci’s chairman and chief executive, said: “The group is confident moving into 2019 and is projecting further growth in its revenue and net income.”
The group’s construction arm generated revenue of €14.2bn (£12.5bn), up 1.9% on an actual basis or 0.2% like-for-like, 46% of which was generated by the company’s activity outside France.
In its quarterly update last October, Vinci said turnover had fallen away at its UK construction business as the firm moved to become more selective in the jobs it takes on.
In its latest update it said that revenue from the UK had now stabilised.
The French giant’s full year results come on the same day as a team made up of Vinci, Balfour Beatty and transport planning consultancy Systra was confirmed as HS2’s construction partner to build the new mega-station at Old Oak Common (pictured).