PARIS, Nov 17 (Reuters) – French construction-to-telecoms conglomerate Bouygues said its sales grew by 4% on a like-for-like basis over the first 9 months of year, driven by its road-building business.

Group sales advanced to 29.7 billion euros ($30.85 billion)over the period from 27.5 billion a year earlier, beating the 29.3 billion-euro analyst consensus compiled by the company.

Core operating profit reached at 1.21 billion euros over the same period, roughly in line with market expectations.

“Roads activities again benefited from good commercial momentum, in particular in Europe and North America, which was enhanced by inflation,” Bouygues said in a statement, with regards to its road-building division Colas.

Bouygues said sales generated by Colas in 2022 would be “significantly higher” than in 2021 thanks to the contribution of Destia, Finland’s biggest infrastructure service company, and price increases on products and services.

Yet the group flagged that the current high-inflationary environment made it irrelevant to give a profitability target for Colas in 2023.

Bouygues confirmed its full-year targets for the group, which include an increase in sales and current operating profit.

($1 = 0.9628 euros)

Reporting by Mathieu Rosemain, editing by Tassilo Hummel

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