By Nathan Allen

Alstom SA (ALO.FR) said Thursday that sales edged up in the first quarter of its fiscal year, while new orders declined.

Sales in the April-June period rose to 2.05 billion euros ($2.29 billion) from EUR2.02 billion a year earlier, as an uptick in demand for signaling and rolling stock offset a decrease in systems sales, the French train maker said.

Meanwhile, orders fell to EUR1.62 billion from EUR2.64 billion, bringing Alstom's order backlog to EUR40 billion.

Alstom confirmed its target to deliver annual sales growth of around 5% and a dividend-payout ratio of between 25% and 35% over the period to fiscal 2023.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

July 18, 2019 01:48 ET (05:48 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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