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Watch on - French construction-to-telecoms conglomerate Bouygues beat nine-month core profit and sales expectations on Tuesday, driven mainly by its energy arm Equans.The diversified group reported a current operating profit from activities of 1.62 billion euros for January to September, compared with 1.57 billion expected by analysts polled by the company.
Last year's acquisition marked a strategic shift for family-owned Bouygues, already present in civil engineering, construction, media and telecoms, as it seeks growth in the energy transition and services market. It said Immobilier was postponing launches of certain projects after reservations for residential property fell 23% from a year earlier and commercial property sales came to a standstill as investors delayed their decisions.
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