Alstom powers to profits on strong energy sector

0 Comments | AFP, May, 2007

PARIS (AFP) — French engineering group Alstom powered into profits on Monday, turning its back on a crisis four years ago with strong orders in the energy sector, slashed debt and resumption of a dividend.

The group, which builds power stations and the French TGV high-speed train, reported a 152-percent rise in net profit in 2006-2007 to 448 million euros (609 million dollars).

And it hinted it was looking for takeover targets, possibly in the renewable energy sector.

Alstom is also the subject of rumors of a possible alliance with French nuclear power group Areva and construction company Bouygues.

In 2005-2006, when Alstom returned to profit after three years of losses, it had made a profit of 178 million euros.

Analysts surveyed by Thomson...