Dow Jones Newswires: Alstom sales rise, but order intake and profit fall

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Alstom SA said on Wednesday that sales rose in the first half of the year, while order intake and profit dropped.

The French train maker’s ALO, -2.17%   net profit from continued operations for the period from April to September was 213 million euros ($236.5 million), compared with EUR318 million year-earlier.

Group net profit was EUR227 million, down from EUR563 million last year, the company said.

The company’s order intake dropped 35% to EUR4.62 billion from EUR7.13 billion.

Earnings before interest and taxes rose to EUR281 million from EUR219 million, while six-months sales came in at EUR4.14 billion, up 3% from EUR4.01 billion last year.

The company backed its outlook for the fiscal year, but said that the period will see sales and margin growth lower than the average objectives set previously in its long-term outlook. Alstom targets an annual growth of around 5% for the next financial years up to March 2023 and an adjusted EBIT margin of around 9% in fiscal year 2022-23.

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