Vinci Backs Guidance After 1st Half Profit Rose

   By Nathan Allen

Vinci SA (DG.FR) confirmed its 2019 financial targets Wednesday and said that its net profit rose 4.5% in the first half thanks to strong growth at its concessions and contracting units.

The French construction and infrastructure company said its net profit increased to 1.36 billion euros ($1.52 billion) from EUR1.30 billion in the same period last year.

Revenue climbed to EUR21.73 billion from EUR19.76 billion the year prior, the company said.

Operating profit at the group's concessions business, which manages toll roads and airports, rose 12% to EUR1.84 billion, the company said.

"Based on this first-half performance, Vinci is confirming its outlook of higher revenue and net income for full-year 2019," Chief Executive Xavier Huillard said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

July 31, 2019 01:56 ET (05:56 GMT)

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