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Article: Finland: Areva Profit Falls on Delay in Finnish Nuclear Project.
- Article from:
- TendersInfo
- Article date:
- September 2, 2009
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Byline: prashant03
Areva SA's first-half profit fell 79% amid investment losses and a hefty provision for a delayed nuclear-reactor project in Finland.
Areva on Monday said earnings fell to 161 million ($230 million) from 760 million a year earlier.
The latest figure fell well short of the 402 million forecast by analysts. Most analysts hadn't accounted for a 550 million provision Areva took for the Finnish project, however.
The Finnish OL3 reactor will be the first operational so-called Evolutionary Power Reactor, which Areva has been promoting as a cost-effective means of producing low-carbon power. But the reactor has been beset by ...