Feb 27 Reuters French conglomerate Bouygues posted a 19 pro forma rise in annual operating profit on Tuesday as strong performances by energy arm Equans, roadbuilding firm Colas and construction units offset weakness at real estate arm Immobilier and TV broadcaster TF1.

Its shares rose more than 4.5 in early trading after the diversified group also beat analysts39; expectations on 2023 sales.

The group reported current operating profit from activities COPA of 2.41 billion euros 2.61 billion for 2023, up from 2.02 billion a year earlier.

Sales rose 3 to 56.01 billion euros on a pro forma basis including Equans which it acquired in late 2022, beating an LSEG poll estimate of 55.44 billion.

The company had guided for an annual COPA of above 2.16 billion and sales close to 54.4 billion, adding it expects both metrics to increase slightly in 2024.

Bouygues acquired Equans from French power group Engie as the familyowned group already present in civil engineering, construction, media and telecoms sectors seeks growth in energy transition and services.

Equans, which was combined with Bouygues39; existing energies and services business, made up one third of the group39;s sales last year.

Bouygues said the energy arm prioritises margins and has a selective approach to construction contracts for data centres, solar farms and EV battery factories in Europe and the United States, as well as maintenance for industrial sites and public buildings.

Immobilier was affected by…