Sales at French nuclear giant Areva up 13 percent

Associated Press

PARIS (AP) — France's state-controlled nuclear power company Areva is confirming a budding turnaround in business, with revenue growing 13 percent in the third quarter.

The company had a dismal 2011 when Japan's nuclear disaster sparked a global rethink of atomic energy, and it lost €2.4 billion ($3 billion), much of it on the back of a troubled mining venture that was embroiled in investigation. It ended the year by announcing hundreds of layoffs.

But the nuclear giant has been mounting a comeback. On Thursday, it reported that third-quarter sales rose to €2.2 billion, its third straight quarter of revenue growth.

Part of the boost is from stemming losses at the mining venture. The company's backlog — a measure of how many orders it's receiving — also reached a record of €47 billion.