BUZZ-Mota-Engil slumps on growing debts

viernes 28 de noviembre de 2014 11:28 GYT
 

** Shares in Portuguese builder Mota-Engil slump 11 pct to six-week lows as investors worry about rising debts despite strong nine-month results.

** "The market seems to have been really upset with the rise in working capital and the rise in the company's debt, in spite of the results," said Albino Oliveira, analyst at Fincor.

** Mota reported on Thursday a 31 pct rise in net profit and a 17.5 pct jump in EBITDA. The company's net debt rose 28 pct from the end of 2013 to 1.246 bln euros at the end of September..

** Mota has benefited recently from strong growth in fast growing non-European markets in Africa and Latin America, which now represent 68 pct of revenues.

(rm://patricia.rua.thomsonreuters.com@reuters.net)