France’s Bouygues beats half-year core profit expectations

French construction-to-telecoms group Bouygues posted first-half core earnings above expectations on Friday driven by strong performances in its energy arm Equans and construction unit, which offset a sharp decline in the real estate business.

Bouygues acquired Equans from French power group Engie in late 2022, as the family-owned group – already present in civil engineering, construction, media and telecom sectors – sought growth in energy transition and services.

Half-year current operating profit from activities (COPA) rose to 747 million euros ($811 million), beating analysts’ forecast of 721 million euros in a consensus compiled by the company.

Bouygues also confirmed the financial targets it announced in February.