German construction group Bilfinger, part of the consortium behind Edinburgh’s troubled £776 million tram project, has reported a rise in profits for 2012 and predicted further growth for the coming year.
The firm said pre-tax profits before one-off items rose to €466 million (£395m) in the year to the end of December, up from €397m the previous year, despite facing an “economically difficult environment”.
Profits were boosted by a €45m gain from the sale of investments in Nigeria, and Bilfinger – which began life in 1883 as a bridge-builder in Mannheim – said it expects underlying profits for the coming year to be higher than the €421m figure booked for 2012.
Officials behind Edinburgh’s controversial tram scheme are confident that services will start running next summer, three years behind the original deadline.