But its European operations bucked the trend, with an ВЈ8.7m profit, compared to a ВЈ22m loss in H1 2008.
Overall Hochtief said that it remained "rock steady" throughout the recession and stood on "very sound foundations". And it pointed to a ВЈ28.6bn order book - 4% higher than the same period a year ago.
The group predicted that its order book and group sales would steady at normal levels below 2008 figures.
Strategic Team Group turnover up 20%Music gear mecca’s siren song wanes