FRANKFURT_German construction company and airport operator Hochtief AG said Wednesday its 2008 net profit rose 24 percent and its order backlog was strong, but said it could not provide a detailed outlook for 2009 because of the economic crisis.

The Essen-based company said 2008 net profit rose to ?175 million ($236 million) from ?141 million in 2007. The increase was supported by ongoing building projects in Russia and eastern Europe as well as the U.S., including construction of a new terminal at the Sacramento airport in California.

"Hochtief is very well placed to profit from the forthcoming U.S. economic stimulus package," the company said.

Work completed at the company - a measure of sales - rose more than 15 percent last year to ?22 billion compared with ?19 billion in 2007 - the first time the figure had surpassed ?20 billion. Its backlog rose 3.4 percent to ?31 billion from ?30 billion in 2007.

The company did not immediately provide fourth-quarter figures.

Hochtief, which builds infrastructure including roads, airports and high-rise buildings, said the financial crisis limited its ability to offer financial guidance for the rest of the year.

But it said it was moving forward on the assumption that the recession won't be a prolonged one. It said it expects its 2009 order backlogs to dip from last year's levels, which would negatively affect earnings.

Hochtief also has operating interests in six airports, including in Athens, Budapest, Hamburg and Sydney, and also consults outside airport owners on airport operations.