Colas: 9m net income crumbles 85%

(CercleFinance.com) - Colas has reported 9m revenue of 9.
08 billion euros, down 11% y-o-y, or down 9% LFL.

In France, revenue reached 4 billion euros (-19% and -17% LFL) and was 5.1 billion euros outside France (-4% and -3% LFL).

Net income, group share came in at 20 million euros, down 85% from 140 million euros in the first nine months of 2019.

Colas said that after a good Q3 in terms of business and results, Q4 2020 is expected to fall relative to Q4 2019, against a backdrop of a slow recovery in public orders in France and uncertainty about the health situation in a number of countries where the group operates.

The market doesn't seem to be too shocked however - the Colas share, although down about 0.5% in morning trading on Thursday, is nevertheless outperforming the CAC 40, which is down about 1%.



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