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Investing.com -- Alten SA (EPA:LTEN) shares surged in early European trading after the French technology and engineering consultancy reported strong cash levels and signaled potential growth later this year.
The company’s shares surged over 10% in Paris trading on Friday.
Alten reported a 20% drop in net profit for 2024, coming in at 186.4 million euros ($195.8 million), citing tax expenses and weaker performance in the automotive, life sciences, and civil aeronautics sectors. Operating profit for the year stood at 376.5 million euros.
Meanwhile, revenue for 2024 rose 1.8% to 4.14 billion euros.
Looking ahead to 2025, the company does not anticipate an immediate recovery but expects conditions to stabilize, with macroeconomic and geopolitical factors creating a path for growth in the latter half of the year.
If the stock’s gains hold, Alten is on track for its biggest single-day increase since September 2011.