September 23, 2023

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ACS quarterly profit soars 58% on construction sales, motorway business


MADRID, May 12 (Reuters)Spanish builder ACS ACS.MC posted on Friday a just about 60% rise in to start with-quarter web revenue to 136 million euros ($141 million), supported by recovering visitors in the Abertis motorway small business and robust development revenue.

ACS Group’s sales in the to start with a few months of 2022 rose more than 8% from a calendar year in the past to 6.9 billion euros, with all building and concessions actions showing enhanced functionality, it mentioned in a statement.

As motorway targeted traffic bounced back to pre-pandemic levels, Abertis, in which ACS holds a 30% stake, included 9 million euros to ACS’ web revenue, in comparison to a damaging contribution of 6 million in the very same interval of past year.

The firm’s chairman and operator of Real Madrid soccer club Florentino Perez reported last 7 days the enterprise was evaluating new prospects to devote in highway concessions in the United States, and expected growing need in the development and concessions companies to present new financial commitment alternatives.

ACS sold its industrial unit to French rival Vinci SA final year.

($1 = .9643 euros)

(Reporting by Corina Pons, modifying by Andrei Khalip)

(([email protected] +58 4241176064 Reuters Messaging: [email protected]))

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