* H1 sales down 1 percent at 14.7 bln euros
* H1 operating profit down 10 percent at 698 million euros
* H1 net profit down 3 percent at 532 million euros
* Ups FY sales target to 30.4 bln euros from 30.1 bln (Adds details from statement)
PARIS, Aug 31 (Reuters) - French construction-to-media conglomerate Bouygues slightly raised its full-year sales target on better-than-expected first-half sales, pledging to step up action to turn around its struggling Colas unit.
Bouygues, which competes with Vinci and Eiffage in construction, and France Telecom and Vivendi in telecoms, posted a slight decline in sales and net profit and a 10 percent dip in operating profit.
Group sales were slightly ahead of analysts' expectations, while operating and net profit figures just missed estimates. According to an average based on the estimates of nine analysts polled by Reuters, revenues were expected to reach 14.571 billion euros, operating result 729 million euros and net profit 544 million euros.
TV channel TF1 posted a 14 percent increase in sales to 1.285 billion euros, while Bouygues's telecoms division saw sales rise 4 percent to 2.732 billion euros.
The group's Colas unit had a more difficult first half, though "improved business activity in the second quarter made up for some of the lag accumulated in the first quarter," Bouygues said in a statement.
Colas, which builds roads and carries out infrastructure projects, is Bouygues's biggest division by revenue.
Sales slid 2 percent to 5 billion euros in the first half. "A deteriorated economic situation in Central Europe and fierce competitive pressure weighed on profitability," Bouygues said.
The unit swung to a 47 million euro operating loss in the first half and a 29 million euro net loss. The unit is introducing an action plan in Central Europe and France to return to operating margin growth next year, Bouygues said.
Bouygues Construction had a "satisfactory" first half, the company said in a statement, adding that order intake of 6.1 billion euros in the period marked an "all-time high", giving it an order book of 13.9 billion euros.
The group's property division Bouygues Immobilier did better than expected, with the residential segment performing better than the commercial segment.
The group reduced its net debt to 4.205 billion euros at the end of the first half, from 6.259 billion euros a year earlier.
Rival Eiffage on Tuesday posted a first-half net profit of 70 million euros and operating profit of 412 million euros.
It said its 10.8 billion euro order book gave it confidence in its full-year sales forecast of 11.3 billion euros. (Reporting by Helen Massy-Beresford, Gilles Guillaume and Marie Mawad; Editing by Will Waterman)