Spanish construction company Actividades de Construccion y Servicios SA (ACS.MC) expects profits to rise 10% this year, bolstered by recent asset sales, Chairman Florentino Perez said Friday.

ACS, the country's largest construction company by market value, expects revenue to grow between 5% to 10% this year, Perez said at a presentation to analysts.

ACS reported a net profit increase of 16% last year to EUR1.81 billion, backed by more than EUR800 million in capital gains from sales of airports, toll roads and a 10% stake in power utility Union Fenosa SA (UNF.MC).

"This year we are aiming to get EUR2 billion" in profits, Perez added.

ACS recently sold another 35.3% of Union Fenosa to Spanish gas distributor Gas Natural SDG (GAS.MC) for close to EUR6 billion.

ACS reiterated that it seeks to raise its stake in power utility Iberdrola SA (IBE.MC). ACS already owns 7.8% of Iberdrola, and has options over an additional 5% stake.

Iberdrola, in turn, has tried to fend off ACS' plans to gain more influence and board representation in the power company.

Company Web site: www.grupoacs.es

-By Santiago Perez, Dow Jones Newswires; +34-91-395 8120; djmadrid@dowjones.com;
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