April 27, 2012
Spanish infrastructure firm Ferrovial posted a 97 percent fall in first-quarter net profit, reflecting changes in the group's make-up after recent asset sales.
Ferrovial, which owns British airports operator BAA, said net profit reached EUR€7.6 million (USD$10 million) in the first quarter to March, compared with a EUR€224 million profit a year ago.
Earning before interest, taxes, depreciation and amortization (EBITDA) rose 11.7 percent to EUR€192 million in the same period, thanks to positive traffic growth and cost controls, it said.
