Mota-Engil shares up nearly 12%

 In Companies, News

Shares in the Portuguese construction company Mota-Engil were up 12% this week on Lisbon Stock Market.

The company saw shares rise 11.96% to €1.966 per share on Wednesday with revelations that the construction firm now has a portfolio of projects in Angola worth €800 million.

The company led by Manuel Mota expects to grow two digits this year in the African market whetting investor appetites to buy up Mota-Engil shares.

In an interview with news agency Lusa, Mota spoke of the company’s stabilisation in 2018 and a two-digit growth forecast in the Angolan market in 2019.

“Naturally, the group is continuing to grow and Angola is in a post-elections transitional period so it is important for Mota-Engil while at the same time there are other markets that are currently growing more than Angola for us”, said the CEO.

Mota-Engil has been operating in the Angolan market for 70 years and is one of the oldest Portuguese companies in Angola and continuing to win big-ticket contracts there.
António Mota and his son, Manuel Mota met with Angolan President João Lourenço in November when the head of state visited Lisbon.

Mota-Engil is the largest civil construction company in Portugal, building all types of infrastructures including motorways and roads, railways, bridges, dams and buildings. It also operates in the area of refuse collection and treatment and water management.

The company is in 20 countries, principally in Europe, Africa and Latin America.