Graña Y Montero H1 Profit Drops, Despite Higher Revenues - Quick Facts

(RTTNews) - Graña y Montero S.A.A. (GRAM), a Peru-based Engineering and Construction company, reported Saturday that its first-half profit declined from last year, even as revenues increased in double-digit rate.

On the basis of International Financial Reporting Standards or IFRS, six-month net income dropped 6.8 percent year-over-year to 122.3 million Peruvian Nuevos Soles.

The company achieved revenues of 2.68 billion Nuevos Soles, 15.6 percent higher than last year.

Adjusted earnings before interest, tax, depreciation and amortisation or EBITDA, a key earnings metric, climbed 32.8 percent and gross profit grew 31.7 percent.

Backlog reached $4.18 billion in the first half, a 52.9 percent increase compared to the same period last year.