Sacyr posts 2% profit rise while seeking partner for growth
MADRID, July 24 (Reuters) -Spanish engineering firm Sacyr reported on Wednesday a 2% increase in first-half net profit to 52 million euros ($56.38 million), largely in line with analysts' expectations.
The company, which is focussed on motorway concessions and is seeking a partner to invest in larger and more profitable highways projects in the United States, said its revenues dipped 2% to 2.11 billion euros from the same period last year.
Analysts, on average, had expected the company to post a net profit of 51 million euros and revenues of 2 billion euros, according to an LSEG survey.
Sacyr expects its annual net profit to rise 73% by 2027 from 2023 levels to reach 265 million euros, excluding one-offs.
($1 = 0.9223 euros)
Reporting by Corina Pons, edititng by Andrei Khalip
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