US fines drive Alstom into loss

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US fines drive Alstom into loss

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Despite rises in both income and sales French transport and power firm Alstom turned a loss last year to the tune of 719 million euros.

The previous year the company made a 556 million euro profit.

The poor figures are being blamed in part on a 684 million euro fine imposed on Alstom in America for criminal bribery charges.

The company’s medium-term earnings targets remain unchanged
but it will not be paying a dividend for 2014.

Alstom says it is close to selling its power equipment division to GE, and it is deciding how much of the 12.4 billion euro raised will go to shareholders.