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FINANCIAL NEWS
Spain’s FCC to build subways in Saudi, revenue to grow
03 Aug 2014
(MENAFN) Spanish construction giant FCC, which is fighting its way out of heavy losses, expects its revenue to grow due to the launch of contracts to build new subway lines in Saudi Arabia and Peru, according to Arab News.
FCC, which reported that it had slashed losses by 91 percent year-on-year to USD71 million in the first six months of 2014, said the foreign contracts would help sales in the short term.
The building and public works group said revenues had declined by 3.7 in the first half of the year as income from construction activity dropped by 14.5 percent.
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