Profit growth for Astaldi

Italian contractor Astaldi has confirmed its revenues have increased by 5.7% for 2014, to €2.65 billion.

Net profit for the group jumped by 21% to €81.6 million, compared with €67.3 million recorded in 2013.

The company said 75.6% (€1.9 billion) of its annual revenues for 2014 had come from international projects. These had largely focused on transport infrastructure and civil construction sectors.

In its outlook for 2015, it expected positive construction sector results in both domestic and global markets. This included ongoing work on underground rail schemes in Milan and Rome.

It is also continuing work on the Third Bosphorus Bridge in Turkey, and is finalising a contract for a section of the M-11 Moscow-St Petersburg motorway. In South America, the company has been involved in designing the Western Metropolitan Hospital, Santiago de Chile.

Stefano Cerri, CEO, said the group was undergoing a programme of financial and business consolidation, which he hoped would provide a foundation for its future development.