Bloomberg News

Sacyr Vallehermoso First-Half Profit Falls 3.5% on Spain Slump

September 01, 2008

Sacyr Vallehermoso SA (SYV), Spain's fifth-biggest builder, said first-half profit fell 3.5 percent as the residential construction market slumped in Spain.

Net income declined to 415.5 million euros ($608 million) from 430.4 million euros a year earlier, excluding its stake in French builder Eiffage SA, the Madrid-based company said in a regulatory filing today. Sales rose 14 percent to 2.92 billion euros.

Sacyr in April sold its stake in Eiffage to end a takeover battle.

To contact the reporter on this story: Brian McGee in Madrid at bmcgee3@bloomberg.net

To contact the editor responsible for this story: Andrew Noel at anoel@bloomberg.net.


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