Firm helping build HS2 railway sees income back up to pre-pandemic level
Bouygues, which is helping build part of the HS2 railway in the Chilterns, saw revenue and profit bounce back to pre-pandemic levels in the first half after being ravaged by lockdowns last year.
The French giant, whose 拢400m turnover UK business is set to file its 2020 accounts later this year, said income in the six months to June was up 18% to 鈧�17.4bn (拢14.9bn) with operating profit returning to the black at 鈧�551m (拢472m) from a 鈧�176m (拢151m) loss last time.
Bouygues, whose activities range from construction to media and telecoms, said income at its largest business, construction, was up 18% to 鈧�12.6bn (拢10.8bn) which it said was largely down to workloads recovering in France which has seen a series of strict lockdowns imposed since the pandemic struck last March.
It posted an operating profit of 鈧�83m (拢71m), up from a 鈧�437m (拢374m) loss last time with its 0.6% margin higher than the pre-pandemic level of 0.5% posted in 2019.
It added that it has appointed a new construction boss Pascal Minault who has replaced Philippe Bonnave who has moved to a new role elsewhere in its construction business.
Bouygues鈥� net debt for the first half was 鈧�2.8bn (拢2.4bn), an improvement of 鈧�1.1bn (拢940m) on June 2020, and which the firm said was a historic low for the first half.
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