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Ferrovial interim revenue up 11%

Ferrovial has increased revenue by 11% in the first half of the year to €4.16bn (£3.19bn).

It earned £133M in net profit for the first six months of 2014, compared with £227M in the same period last year, which was boosted by the one-off sales of Stansted Airport and Amey’s PFI interests.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew by 4.8%, to €344M.

The company’s forwarded orderbook reached a record high of £20.1bn.

International contracts account for 68% of the forward orders, which does not yet reflect new work worth £870M, including the Docklands Light Railway operations and maintenance franchise and three Next Generation Estate Contracts for the Ministry of Defence.

Some £14.9bn of the orderbook is for services, with the remaining £5.8bn for construction.

International revenues increased by 14% compared with the same period last year.

Construction business outside Spain expanded to account for 75% of revenues and 71% of the orderbook.

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