Alstom Net Profit Soared 66% in First Half
November 14 2017 - 2:04AM
Dow Jones News
By Nathan Allen
France's Alstom SA (ALO.FR) on Tuesday said that net profit for
the first half of its fiscal year soared 66%, citing an increase in
volume and operational improvements.
The train maker's net profit for the April-to-September period
climbed to 213 million euros ($248.3 million) from EUR128 million a
year earlier.
Sales went up to EUR3.76 billion from EUR3.57 billion a year
earlier.
Alstom said that it received EUR3.17 billion in new orders over
the period-- a decline of 49% on year due to the effects of several
large orders in fiscal 2016.
Chief Executive Henri Poupart-Lafarge said that the company is
on track to complete its 2020 objectives of reaching 5% organic
sales growth a year and an earnings before interest and taxes
margin of 7% by 2020.
In September, Alstom announced that it had agreed to merge with
Siemens AG's (SIE.XE) rail operations to create a company with the
scale to take on competition from China.
Mr. Poupart-Lafarge said that the company is in discussions with
unions regarding the details of the merger.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
November 14, 2017 01:49 ET (06:49 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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