Sacyr Vallehermoso 9-Month Profit Drops 12% on Spain Slowdown

Sacyr Vallehermoso SA (SYV), Spain's fifth-biggest builder, said nine-month profit dropped 12 percent on a residential construction slump in its home market.

Net income declined to 510 million euros ($647 million) compared with 578 million euros a year earlier excluding the contribution from Eiffage SA, the Madrid-based company said in a regulatory filing today. Sales rose 13 percent to 4.4 billion euros. Marta Olba, an analyst at Banesto Bolsa in Madrid, predicted revenue of 4.58 billion euros.

To contact the reporters on this story: Gareth Gore in Madrid ggore1@bloomberg.net; Brian McGee in Madrid at bmcgee3@bloomberg.net

To contact the editors responsible for this story: Daniel Hauck at dhauck1@bloomberg.net; Andrew Noel at anoel@bloomberg.net.

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