Indra's H1 profits increase 4%

- Tuesday, August 2, 2011

Indra's H1 profits increase 4%

Spanish systems integrator Indra's net profits reached 105mn euros (US$149mn) in the first half of 2011, up 4% year-on-year, the company said in a statement.

According to the release, excluding extraordinary costs incurred in 2010, earnings would have decreased 5%.

Revenues were 1.35bn euros, up 2% with respect to the first six months of 2010. International markets showed a 5% increase in sales, with 16% growth for the Latin American market, led by Brazil, Colombia and Peru.

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According to the company, the domestic market remained practically flat, with increased activity among corporate clients compensating "budget restrictions in markets with a higher institutional demand exposure."

The company expects full-year revenues to grow more than 2%, with significantly higher growth on international markets, but without considering the recent acquisitions of Galyleo in Italy and Politec in Brazil.

Follow this link to read the full report.