LONDON Jan 24 British engineering group
Invensys said it expected to post an improved
performance this year after solid trading from its industrial
automation unit and an improved showing in the rail division
helped the third quarter.
The firm, which makes control systems for nuclear power
stations, industry, railways and domestic appliances, said its
overall performance in the third quarter had continued in line
with the first half.
"Subject to any significant changes to the global
macro-economic environment, we continue to believe that we will
improve our performance for the year as a whole," it said.
Invensys, which has announed plans to sell its rail business
to Germany's Siemens for 1.74 billion pounds ($2.76
billion), said that unit had improved revenues due to the
mobilisation of several large contracts won last year. Operating
profits for the division was also ahead of last year.
It said it expected completion of the rail disposal to take
place in the calender second quarter this year.