PARIS (AFP) -Shares in Alstom jumped more than three per cent Wednesday after the French industrial giant confirmed its annual performance targets, announcing an 11 per cent increase in transport sales in the last quarter.
The group, which is hiving off its energy assets, saw its share price surge 3.59 per cent to 28.385 euros around 0900 GMT in generally flat trading.
In the October-to-December quarter Alstom generated turnover of 1.5 billion euros, up from 1.35 billion euros in the same period of 2013.
Orders, excluding power deals, fell by 36 per cent during the company’s third quarter but were better than expected.
Over nine months, orders ballooned by 52 per cent thanks to a 4.0 billion euro contract to supply commuter trains to South Africa.
Investors were also reassured by the group’s confirmation of its financial targets for the full fiscal year ending March 31.