MILAN (Thomson Financial) - Ansaldo STS SpA said first quarter net profit
rose 19 percent to 10.5 million euros from 8.8 million a year earlier, in line
with expectations, and supported by further rises in the order book.
Operating profit rose to 20.1 million euros from 18.3 million, value of
production rose 7.6 percent to 219.2 million, and order intake was up 19.0
percent at 193.6 million, the company said.
"The portfolio of orders has risen with respect to a year earlier, which
will allow for expansion during 2008 in production volumes to reach the
significant level of 2007, if not higher," it said.
"The reference markets of the company are overall still growing, even if in
some countries, including Italy, some railway investment programmes are reaching
their natural conclusion," it said.
In face of this downturn in some countries, Ansaldo STS is turning its
attention to growth markets such as China, India and Russia, it said.
The order portfolio at end of March rose to 2.924 billion euros, from 2.370
billion a year earlier, it said.
Analysts polled by Thomson Financial News were expecting a net profit of
between 10 million and 12 million euros, EBIT of 19 million to 20 million, and
sales of 210 million to 220 million.
nigel.tutt@thomsonreuters.com
nt/lam
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