Invensys rues Chinese nuclear costs but markets see improvement

Rail, power and appliance conglomerate Invensys has seen its order book grow but has taken a hit on cost overruns at its Chinese nuclear projects.

Rail, power and appliance conglomerate Invensys has seen its order book grow but has taken a hit on cost overruns at its Chinese nuclear projects.

Revenue for the 12 months to the end of March was £2.539bn (2011: £2.486bn), up 2% on the prior year or 3% at constant exchange rates. The main driver was a series of rail and power plant contracts although the Invensys Controls unit, which makes things like thermostats, contracted.

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