Thales H1 core profit up on weaker sales, reaffirms targets

PARIS, July 24 Thu Jul 24, 2014 11:56am EDT

PARIS, July 24 (Reuters) - France's Thales reported a 15 percent increase in first half operating income to 422 million euros ($568 million) on Thursday and reaffirmed its objectives for 2014 and beyond.

Europe's largest defence electronics company said the improvement came despite a one percent dip in sales driven by pressure on Western defence budgets as it continued a drive to boost its position in emerging markets. ($1 = 0.7425 Euros) (Reporting by Tim Hepher; Editing by Andrew Callus)