Thales Q1 sales flat, confirms 2014 targets

PARIS, April 29 Tue Apr 29, 2014 12:00pm EDT

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PARIS, April 29 (Reuters) - France's Thales confirmed its 2014 financial objectives after posting flat sales in the first quarter, coupled with further evidence of busy demand for defence and security equipment in emerging markets.

Europe's largest defence electronics group by sales said quarterly revenue rose 1 percent on a like-for-like basis to 2.396 billion euros, led by a 7 percent gain in Aerospace.

The group's order intake rose 10 percent - 13 percent in comparable terms - to 2.03 billion euros, led by a sharp upswing in defence and security deals in Latin America and the Middle East.

Thales reaffirmed targets for the year, including stable revenues and a double-digit percentage growth in new orders from emerging markets, which it expects will offset declines in defence spending in developed markets. (Reporting by Tim Hepher; editing by Geert De Clercq)

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