LONDON Oct 11 Specialist technology provider e2v
Technologies warned that it will miss its expectations
for the year after an ongoing slowdown in the defence industry
dented performance in the first half.
The group, which has provided parts for high profile
projects like the Hubble Space Telescope, said that first half
revenue will be around 90 million pounds ($144 million),
compared to 115 million in the same period last year, but that
it expected a pick up in the second half as previously delayed
space and defence projects caught up.
"The business has responded well to the challenges in our
end user markets and the delays experienced in order bookings,"
said Chief Executive Keith Attwood on Thursday.
"The ongoing cost control, drawing on the flexible cost base
we previously put in place and implementing further
restructuring, has effectively maintained the profit margin of
The slowdown in the global defence market was one factor in
the decision of BAE and EADS to halt their mega-merger on
Wednesday. E2v provides parts for the Eurofighter Typhoon
aircraft project, a joint venture between the two defence
E2v's total order book fell to 138 million pounds at
end-September, down from 146 million a year ago.
Shares in e2v fell 4 percent to 115 pence at the open on