UPDATE 1-Tecnicas Reunidas 9-mo core profit meets fcast - News

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UPDATE 1-Tecnicas Reunidas 9-mo core profit meets fcast

By: AFX | 12 Nov 2009 | 01:42 PM ET

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MADRID, Nov 12 (Reuters) - Spanish engineering company Tecnicas Reunidas posted on Thursday a 7.9 percent rise in nine-month core profit, as falling construction material costs helped offset contract prices that were negotiated down. Earnings before interest, taxes, depreciation and amortisation (EBITDA) reached 114 million euros ($171 million), meeting analyst forecasts for 114.7 million. Net profit grew 2 percent to 104 million euros, while the order book for the company, which specialises in the construction of oil refineries, totalled 4.92 billion euros at the end of September, with its oil and gas division accounting for 85 percent of the total. ($1=.6668 Euro) (Reporting by Judy MacInnes; Editing by Simon Jessop) Keywords: TECNICASREUNIDAS/ (tracy.rucinsk@thomsonreuters.com; RM tracy.rucinski.reuters.com@reuters.net; +34 91 585 2153) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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