'Impressively robust' H1 boosts Vinci shares
** Shares in Vinci SGEF.PA rise 2.8% after the group posted H1 revenue growth and margin expansion
** J.P. Morgan points to an "impressively robust" H1 performance, noting growth in airports traffic and outstanding order growth and margin expansion at its contracting operations
** The broker adds the only profit decline was at autoroutes, where H1 2024 EBIT was down by 6% y/y due to the impact of the new French tax on infrastructure
** Concessions revenue totalled EUR 5.3 billion, up 6.8% on an actual basis, with autoroutes up 3.6% and airports up 14.1%
** VINCI Airports now forecasts passenger numbers in excess (as opposed to "slightly in excess" previously) of their 2019 levels
** "Expect (consensus estimates) up 1-2%, and after a pullback, we see the shares offering compelling value on 4.8% '25 dividend yield," Jefferies says
Reporting by Federica Mileo
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