CFE Says Profit Forecast Depends on Outcome of Building Projects
Cie. d’Entreprises CFE SA said its forecast to recover part of a first-half profit decline in the second half depends on a “positive outcome” of some building projects after third-quarter revenue declined 1.7 percent.
Full-year net income may decrease to about 52.5 million euros ($71.5 million) this year from 63.3 million euros in 2010 should there be no positive outcome or if projects are deferred, the Brussels-based company said in an e-mailed statement today.
Third-quarter revenue declined to 412.7 million euros from 419.9 million euros a year earlier even as sales at Dredging Environmental & Marine Engineering NV advanced about 6 percent in the period, according to nine-month figures published today by CFE. Net debt increased by 43 million euros in the quarter to 379 million euros at the end of September.
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