Spanish infrastructure and contracting giant says overseas work makes up most of its construction activity
Spanish construction giant Ferrovial has reported a 10% growth in revenue in the first nine months of 2014.
In a trading update the firm, which is a major shareholder at Heathrow Airport, reported revenue of 鈧�6.5bn (拢5.1bn) in the nine months to 30 September 2014, up from 鈧�5.9bn (拢4.6bn) over the same period last year.
The Spanish contractor, whose UK jobs include work at Heathrow and on the London Underground, also reported an 11% rise in profit before interest, tax, depreciation and amortization (EBITDA) to 鈧�701m (拢550m) up from 鈧�631m (拢495m).
The company also reported a record order book of 鈧�28.4bn (拢22.3bn), 鈧�7.7bn (拢6bn) of which it said was construction work, the rest was in its services division.
The firm said that work outside of Spain rose to account for 77% of its construction revenue over the period.
It said that it had also benefited from improved revenue at Heathrow, where it has a 25% stake. It said the airport鈥檚 revenue had grown 8.1% helping to boost Ferrovial鈥檚 dividends from this and other major assets to 鈧�226m (拢178m).
In October the firm announced that, alongside Australian bank Macquarie, it had agreed a deal to buy three UK airports at Southampton, Glasgow and Aberdeen for 拢1bn.
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