Portuguese contractor Mota-Engil said yesterday that its pre-tax profit for the first half of the year rose 12% to €396m and its consolidated group profit rose 65% to €49m.
The company’s revenue to July rose 7% to €2.7bn. The main driver of this growth has been Latin America, where revenue increased 12% to €1.5bn.
Last month, the company signed a deal to build a $1.2bn fertiliser plant in Veracruz, Mexico, for national oil company Pemex.
In Europe, sales increased 2% to €297m, and in Africa they fell 3% to €659m.
This is a change in the company’s geographical focus. In the past, its main focus outside Portugal was sub-Saharan Africa, particularly in former Portuguese colonies like Angola, where it is rehabilitating the Luanda railway.
It also handled major projects elsewhere, such as Tanzania’s standard gauge railway and a motorway in Lagos.
The latest results continue a number of years of double-digit earnings growth, including a 60% year-on-year jump in 2022, and a 53% rise in 2023.
This pattern may continue, as the company’s order book hit a record €13.7bn.
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