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Alten eyes '09 like-for-like sales drop of 10.5 pct

Tue Nov 10, 2009 10:46pm IST
 
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* 9-month sales 641.1 mln euros, up 2.6 pct

* 9-month sales down 9.4 percent, like-for-like

* Keeps margin forecast for H2, activity stabilised in Q3

PARIS, Nov 10 (Reuters) - French technology consultancy and engineering group Alten (LTEN.PA: Quote, Profile, Research) said activity stabilised in all its sectors in the third quarter but predicted that 2009 like-for-like sales would fall by around 10.5 percent.

Acquisitions helped Alten post a 2.6 percent rise in nine-month sales to 641.1 million euros and the company reiterated a forecast for operating margin to improve in the second half of 2009 over the first half.

"Even if activity has been stable since June 2009, visibility remains low. Staff utilisation rate is under control and should exceed 91.8 percent for the second half," the statement said.

Alten, which competes for budgets with French technology and R&D consultant Altran (ALTT.PA: Quote, Profile, Research) and engineering and consulting group Assystem (ASY.PA: Quote, Profile, Research), has a market capitalisation of around 550 million euros.

In July, Alten placed its subsidiary research consultancy Idestyle, which accounted for over 90 percent of its business with the car sector, under receivership. Idestyle was deconsolidated as of July 1, 2009.

(Reporting by Dominique Vidalon; Editing by David Cowell)

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