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Bouygues swings to quarterly profit

French industrial group Bouygues SA swung to profit in the first quarter of 2018, helped by improvement in its telecom division.

Net profit came in at €12 million in the first quarter, compared with a restated net loss of 41 million in the same period last year.

Current operating loss widened to €111 million from €75 million in the year-ago quarter.

Sales totaled 6.83 billion in the three months to March, compared with 6.84 billion in the year-ago quarter. Sales at the telecom division rose 5.9% year over year to €1.28 billion, with the addition of 453,000 new mobile customers.

The company's construction business generated sales of 5.06 billion, down 1.6% year over year.

Colas, the company's road construction arm, was affected by bad weather in Europe, Bouygues said.

Sales at TF1 Group, Bouygues' media arm, were down 0.8% to €499 million due to a decrease in sales from other activities.

Bouygues maintained its guidance for 2018, with profitability expected to "continue to gradually improve" throughout the year.