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Bouygues: returns to profit in Q1

(CercleFinance.com) - Bouygues has posted a 53 million euro y-o-y improvement in its Q1 2018 income, group share to 12 million, even though its underlying operating result is negative at -111 million euros, against -75 million euros in Q1 2017.

The last quarter has been marked by Bouygues Telecom continuing with its sound commercial performance, and a record backlog for its construction business at 31.7 billion euros at the end of March 2018, up 4% y-o-y.

"As each year, the Group's first-quarter operating performance is not indicative of full-year performance, mainly due to the highly seasonal nature of Colas' business and the application of IFRIC 21. Adverse weather in Europe had a strong impact in first-quarter 2018, especially at Colas," said the conglomerate, which has confirmed its annual outlook.

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