Alstom infrastructure boom boosts annual profits by half

0 Comments | AFP, May, 2008

PARIS (AFP) — French engineering giant Alstom reported a 56-percent rise in net profit for its last financial year on Wednesday and said orders had reached record high levels because of strong global demand for infrastructure.

The group, which sells turbines for power stations and the TGV high-speed train on world markets, said that profit margins would improve in the 2009-2010 year.

Alstom said that net profit in the 2007-2008 year had risen to 852 million euros (1.32 billion dollars).

The group was rescued from the verge of bankruptcy in 2004, but is now in the spotlight of French and Swiss investigations into alleged contract bribery under previous management.

Given the strength and quality of the order book, the operating margin should be about...