Construction company Ballast Nedam booked an unexpected slight profit in the first six months of this year but is leaving its full year forecast unchanged.

Ballast Nedam booked net profit of €2m in the first half. Turnover rose €24m to €625m.
In particular, the company’s building and development arm performed better than expected.
Nevertheless, the company said it expected the construction sector would continue to suffer from the economic downturn.
‘Market volumes are continuing to decline, with consequent substantial competition for new projects and sustained pressure on the margins,’ the company said in a statement. ‘The years ahead will therefore be equally difficult for the construction industry, which operates at the tail-end of the economic cycle.
The housing market is also ‘locked’ because of continued political uncertainty over mortgage tax relief, it said.