Spain's Indra posts 18 pct rise in 9-mnth profit
MADRID Oct 30 (Reuters) - Spanish technology company Indra on Thursday said net profit in the first nine months of the year rose 18 percent to 78 million euros (98.47 million US dollar), helped by lower costs as sales revenue fell slightly from a year ago.
The firm, which provides IT systems and consulting to sectors such as energy, finance and defence, posted earnings before interest and taxes of 140 million euros at end-September, flat from a year ago and below a forecast for 147 million euros in a Reuters poll.
Indra said it had negative free cash flow of 5 million euros at end-September. It added that this was expected to improve in the fourth quarter, and that a target to reach free cash flow of over 100 million euros by year-end was conditional on projects in Mexico and Brazil coming to fruition. (1 US dollar = 0.7921 euro) (Reporting by Sarah White; Editing by Julien Toyer)
© Thomson Reuters 2017 All rights reserved.