Spain's ACS net profit climbs 17% buoyed by business in North America
MADRID, May 13 (Reuters) - Spanish construction group ACS ACS.MC on Tuesday reported its first-quarter net profit rose 17%, slightly above analysts' expectations, boosted by its business in North America.
The company said its net income was 191 million euros ($212.03 million) in the first three months of the year, while analysts polled by LSEG had expected an average of 183 million euros.
Its revenues rose 35% from a year earlier to 11.79 billion euros, more than the 10.3 billion euros estimated by analysts.
ACS has won several contracts over the past year related to digitalization, data centres and transport infrastructure in the United States and Canada, a region that represented almost two third of its revenues.
As a major shareholder in toll road firm Abertis, the company also benefited from the solid motorway business and from construction projects in Europe and Australia.
($1 = 0.9008 euros)
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