The logo of Spanish construction conglomerate ACS is displayed atop the company’s building in Madrid, Spain, February 10, 2023. REUTERS/Violeta Santos Moura/File Photo Acquire Licensing Rights
MADRID, Nov 13 (Reuters) – Spanish builder ACS (ACS.MC) posted a nine-month net profit of 576 million euros ($616.2 million) on Monday, a 20% rise from last year and topping market expectations, as it expanded projects in the United States and benefited from toll-road unit Abertis.
Analysts on average expected net profit to jump 15% to 552.67 million euros from the 480 million euros reported in the same period in 2022, according to LSEG estimates. They had forecast a slight adverse impact on earnings due to currency exchange rates of both the U.S. dollar and the Australian dollar.
The company’s sales rose 7.6% to 26.3 billion euros, it said.
On the back of strong results from construction…
