MADRID, July 29 (Reuters) - Spanish builder ACS ACS.MC reported on Friday a 4.7 percent drop in net profit on lower revenues as large liquified natural gas projects run by Australian contractor CIMIC CIM.AX ended.
ACS, which is the parent company of German builder Hochtief HOTG.DE which in turn controls CIMIC, said there had been a rebound in activity in the second quarter against the first in the Australian contractor.
"Australian production has grown 6 percent in the second quarter compared to the previous quarter, showing a change in trend which will consolidate over the following quarters," the company said in a statement.
ACS reported first-half net profit of 388 million euros ($431 million), on earnings before interest, tax, depreciation and amortisation of 1.23 billion euros. ($1 = 0.8998 euros)