April 28, 2016 / 6:37 AM / 2 years ago

Spain's Abertis Q1 core profit rises 6 pct, beats forecast

MADRID, April 28 (Reuters) - Spain’s toll road operator Abertis posted on Thursday a 6 percent rise in first-quarter core profit, boosted by a solid traffic growth in Spain, France and Chile which offset lower activity and negative currency effects in Brazil.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) for the first three months of the year came in at 714 million euros ($810 million), above analysts’ expectations of 703 million euros.

Net profit on the January to March period was 385 million euros, up 205 percent from the same three months last year after the company increased its size by taking majority stakes in motorways and tunnels assets in Chile and Spain. Excluding this effect, net profit would have risen 9 percent in the quarter. ($1 = 0.8812 euros) (Reporting by Julien Toyer; Editing by Paul Day)

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