Hochtief Reports Decline In Q2 Profit

By Lisa Levin
Benzinga Staff Writer
August 17, 2011 4:36 AM

Symbols: HOCFY

Hochtief AG (OTC: HOCFY) released its results for the second quarter on Wednesday.

Hochtief's quarterly net profit declined to EUR13.8 million from EUR54.1 million. Its external sales surged to EUR5.46 billion from EUR5.08 billion. Hochtief's profit before taxes dropped to EUR10.2 million, from EUR181 million, in the year-ago quarter.

Hochtief's earnings before interest, tax and amortization (EBITA) declined to EUR54 million from EUR239.2 million in the year-ago period.

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