May 7, 2019 / 5:38 AM / 2 months ago

French group Alstom posts higher FY profit, hikes dividend

FILE PHOTO: A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019. REUTERS/Regis Duvignau

PARIS (Reuters) - French transport infrastructure group Alstom, whose planned tie-up with Siemens’ rail arm was scrapped earlier this year, posted a stronger annual profit on Tuesday, boosted by orders and contracts.

Alstom’s adjusted earnings before interest and tax (EBIT) surged 44 percent from a year earlier to 570 million euros (487 million pounds), while its sales rose 10 percent to 8.1 billion euros.

Alstom also raised its dividend to 5.50 euros from 0.35 euros last year.

Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips

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