French nuclear giant Areva sees revenue rise 12.5 per cent as turnaround takes hold

PARIS – France’s state-controlled nuclear engineering giant, Areva, says revenue grew 12.5 per cent in the first quarter, driven by strides in its mining and fuel-treatment businesses.

The company is trying to stage a turnaround after troubles with a mining venture and a global pullback from nuclear energy following Japan’s Fukushima disaster.

Areva said Thursday that its revenue grew to 2.3 billion euros ($3 billion) in the January-to-March quarter.

Once the subject of massive charges, the mining business is getting back on track. Its revenue grew 26 per cent. The company’s “back end” business, which includes fuel treatment, saw 50 per cent growth.

But Areva’s backlog, a measure of orders, slipped during the quarter and is now even with where it was in March last year.