UPDATE 2-Vinci shares tumble as builder forecasts 2014 slowdown

viernes 1 de agosto de 2014 07:42 GYT
 

* Shares down 8 pct

* Does not see a recovery in French construction market

* But sees rise in net income, to pay special dividend

* Concessions perform well, traffic seen rising (Adds CEO comments, share drop, broker comments)

By Gilles Guillaume and Natalie Huet

PARIS, Aug 1 (Reuters) - Europe's biggest construction and concessions company, Vinci, warned it expected business to slow down this year because of falling orders in its home market France, sending its shares down more than 8 percent on Friday.

Vinci, which had previously forecast roughly stable full-year revenue, now expects a slight decrease on a like-for-like basis, as it sees projects outside Europe temporarily drying up and prospects in France remain glum.

Reporting first-half results late on Thursday, it announced an exceptional dividend and said it expected a strong increase in consolidated net income in the full year thanks to asset sales including parking business VINCI Park.

Like other builders, Vinci has seen construction slow down since the 2008 financial crisis and has expanded into higher-growth, more profitable concessions such as airports and motorways.   Continuación...