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French heavy engineering firm Alstom posted a 22.4 percent slide in third-quarter sales on Monday after a brush with bankruptcy stifled business but said orders were improving as client confidence returned.

The maker of super-fast TGV trains, cruise ships and gas turbines said a state-backed bailout that rescued it from collapse helped revive orders in the third quarter, which included a crucial 680 million euro power plant contract.

Sales fell to 3.98 billion euros ($5.1 billion) for the three months to end-December from 5.13 billion a year ago. Orders were 4.65 billion, compared with 4.95 billion.

Alstom forecast full-year orders of around 15 billion euros and confirmed full-year sales would total 17 billion.

Copyright Reuters, 2004


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