Mota Engil shares fall as turnover stagnates in key regions

Mota-Engil, SGPS

19/11/2024 14:18

** Portugal's Mota Engil  MOTA.LS  shares fall around 4%
    ** Co reports a 51% profit jump and a record order book in
the first 9 months of 2024
    ** Sales in Europe fall 8% and drop 3% in Africa
        ** Share price decline  could be linked to the
stagnation of turnover in key regions such as Poland and Latin
America - João Queiroz, head of trading at Banco Carregosa told
Reuters
  
    ** Mota-Engil's position within cyclical sector might limit
its short-term appeal, potentially reducing interest among
certain investor profiles, despite positive long-term outlook,
Queiroz adds
    ** "The implementation of tariffs by the new U.S.
administration is likely to impact emerging economies like Latin
America and Africa," regions where Mota-Engil holds a
significant presence
    ** Including today's fall, stock has dropped by 36.87% YTD​

 (Reporting by Tiago Brandao)
 ((Tiago.Brandao@thomsonreuters.com;))