Brisk traffic sends Ferrovial’s third quarter profits up 79%

Spanish group Ferrovial’s third-quarter profits jumped 79% year-on-year to $531.5m due to "good operating performance by all divisions and main assets", the company announced last week.

Double-digit growth in all divisions helped revenue grow 11%, to just shy of $8bn (€7.2bn), while the value of its order backlog reached $34.4bn (€31.28), 74% of which are international contracts, the infrastructure company revealed on 29 October.

International revenues increased by 16% to account for 72% of total revenues.

Ferrovial’s toll roads and airports enjoyed growth in traffic. Revenues from the North Tarrant Expressway in Texas totalled $36.6m, up 17% from the previous quarter, and earnings from Ontario’s 407 highway increased by 13.5%.

London’s Heathrow airport registered 2.3% growth in traffic, to 57 million passengers, which yielded a 4.3% increase in revenues to just over £2bn, the company said.

Ferrovial subsidiary, Cintra Infraestructuras, has recently been awarded contracts in Colombia and Australia.

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