(MENAFN- AFP) French construction giant Vinci, which also operates motorways and airports, warned Wednesday its revenues would fall further in 2015 as building remains lacklustre in its home market.
Vinci however announced net profits jumped by over a quarter last year to 2.48 billion euros despite a 2 percent slide in revenues to 38.70 billion euros.
Most of the profit gain was due to listing 75 percent of its parking garage unit, but management still said "Vinci's overall performance in 2014 was robust."
It said "the continued upturn in motorway traffic, the sharp increase in airport traffic and the good momentum in the group's activities outside Europe allowed the group to reduce the impacts of the deterioration in the French economic environment" that affected the construction business.
For 2015, Vinci said it expects its the French construction business to see a 5 to 10 percent drop in sales, although part of this will likely be offset by expansion abroad.
Net profits excluding exceptional items are likely to be near the 1.9 billion euros recorded in 2014.
The company said its motorways and airports business would likely to see traffic growth, but at lower rates given the 2014 increase.
The motorways unit recorded 2.1 percent traffic growth in 2014, with airport traffic up 9.1 percent.
International sales now account for 38.2 percent of total revenues.
Management said it would propose a dividend of 2.22 euros per share.
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