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The FCC Group: A 37% Increase in Ordinary Profits.


The FCC Group: A 37% Increase in Ordinary Profits.

The net turnover figure for the Grupo Fomento de Construcciones y Contratas, S.A. (FCC) during the first nine months of the year was 531,400 million pesetas (3,193.78 million euros) which amounts to a 19.1% increase over the same period last year.

Of the total turnover figure, international revenues amounted to 73,044 million pesetas (439 million euros), which represents a 76% increase over last year.

FCC's diversification continued to the point where 53.3% of its sales referred to activities in non-construction sectors.

TURNOVER BY ACTIVITY (in millions of pesetas)
30/09/00 30/09/99 %CHANGE
Construction 252.429 232.548 8,5
Services 183.138 140.288 30,5
Cement 83.643 55.863 49,7
Grucycsa 21.069 19.120 10,2
Intragroup (8.879) (15.350)  

The ordinary results were 47,472 million pesetas (285.31 million euros), an increase of 36.8% over the first three quarters of 1999.

The before tax profits rose by 38.2% in homogeneous terms, not counting the extraordinary capital gains from the last fiscal year, from 39,080 million pesetas (218.9 million euros) in 1999 to 54,016 million pesetas (324.64 million euros) in this fiscal year.

The after tax profits were 36,424 million pesetas (218.9 million euros) compared to 25,988 million pesetas (156.19 million euros) last year, minus the capital gains. This amounts to a 40.2% increase.

There was a sharp increase in the distributable net profits which rose by 56%, after deducting the effects of the capital gains and amounted to 25,123 million pesetas (150.99 million euros).

As of September 30, the Group employed 50,504 people which represents an increase of 4,964 new jobs in the last 12 months.

The portfolio of goods and services pending completion was 1.909 billion pesetas, 20% more than on the same date last year.