HOCHTIEF projects pre-tax profit of EUR1bn this year
Germany’s HOCHTIEF reported a 50% rise in consolidated net profit for 2010, earning EUR288 million. Profit before tax was EUR756.6 million, up 26.8% year-on-year. For 2011, HOCHTIEF expects a pre-tax profit of around EUR1 billion and consolidated net profit of some EUR600 million for the current fiscal year, depending on the size and outcome of the sale of interests in HOCHTIEF concessions. Shares in the company rose 2.5% in trading on Wednesday.
