Indra estimates 3.3% Y/Y profit decline for 2010

Internet Business News
01-25-2011
Indra estimates 3.3% Y/Y profit decline for 2010

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

25 January 2011 - Spanish IT firm Indra (MCE:IDR) will close 2010 with a net profit of EUR189m (USD257.9m), down 3.3% year-on-year, the company's preliminary results submitted with the national stock market regulator CNMV showed yesterday.
The drop is explained with a series of extraordinary costs.

Sales are expected to rise by 2% on the year to EUR2.557bn. Sales in Spain are seen to lose 3%, while those abroad will gain 10%.

The recurring earnings before interest and tax (EBIT) margin is expected to stand at 11.2%.

In 2011 Indra hopes to book more than 2% rise in its sales.

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2011