OHL 9mth. net profit down 8.5%

Spanish engineering and construction firm OHL posted a 37.5mn euro (US$44.2mn) net profit in the first nine months, down 8.5% from the same period last year, the company said in a statement to Spain's securities regulator, the CNMV. Revenue increased 16.4% to 1.5bn euros for the period due to construction startup of works the company was awarded in 4Q02. Operating profit closed at 136mn euros, up 12.9% from January-September last year, despite increased external, operating and personnel costs. OHL's principal interests in Latin America are highway concessions: AECSA (Argentina); Autovias and Centrovias (Brazil); Ruta 60, Autopista del Sol and Autopista los Libertadores (Chile); and the Mexiquense (Mexico). The group also operates parking garages in Chilean capital Santiago and a desalination plant in the country's northern Region II; a sewage treatment plant in Brazilian city Ribeirao Preto; and Mexico City's international airport. In July, OHL began studies into the possible sale of its water and environmental services subsidiary Inima, as part of plans to sell off non-strategic assets during the year to focus on infrastructure concessions. In Latin America, Inima has operations in Argentina, Brazil (Ribeirao Preto plant), Chile (Antofagasta plant) and Mexico.