Alstom says sales still growing as orders rise
French engineer Alstom has said that a recovery in sales is building as government contracts for commuter trains in Europe and demand for power plants in emerging markets lifted orders despite a faltering global economy.
Alstom, which makes commuter and high-speed trains, wind turbines and power station turbines, said yesterday orders rose 3 per cent in the third quarter of its financial year.
Chief executive Patrick Kron said he expected order intake to be strong in the fourth quarter.
After a slowdown in orders three years ago when Europe’s economy stalled, Alstom has increased its focus on emerging markets and has branched into new businesses.
The group, which competes against Siemens, has forecast annual sales growth of more than 5 per cent this year and in the next two. – (Reuters)