Vinci's profits rise 60%

Vinci has reported a 60% rise in profit for 2006, up to £32m from £20m the previous year.

The French construction group recorded the rise despite a slight drop in turnover, which dipped to £632m compared with £639m the previous year.

Vinci said that turnover was expected to grow “significantly” in the foreseeable future, both organically and by acquisition. The company made two acquisitions during 2006, purchasing the fit-out business of TCL Granby and the retail fit out business of PEL.

The company’s order book at the end of 2006 was £485m.