Ansaldo STS posts increased Q1 earnings

(ANSA) - Milan, April 18 - Italian rail signalling company Ansaldo STS on Monday posted preliminary first-quarter earnings of 291.2 million euros, up from 284.6 million in January-March 2015.
    As well, the company posted net profits of 19.7 million euros (+11.3% over the same period last year). The company said current orders equal 6.417 billion euros, down from 6.428 billion in the first quarter of 2015. "In just three years...orders grew 160%, earnings grew 20%, and net results grew 80%," said CEO Stefano Siragusa. Japanese group Hitachi last month took a majority stake of 50.77% in Ansaldo STS thanks to share buying in a bid to avert a possible hostile takeover.