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Thales underlying H1 profit up 9 pct, maintains targets
July 24, 2013 / 4:08 PM / 4 years ago

Thales underlying H1 profit up 9 pct, maintains targets

PARIS, July 24 (Reuters) - France’s Thales maintained its financial goals for the year after reporting an 8.7 percent increase in comparable operating profit in the first half, driven by cost cuts and higher volumes in its aerospace business.

Europe’s largest defence electronics company posted half-year operating profit of 360 million euros on revenues which grew 1 percent in like-for-like terms to 6.473 billion euros.

However, its order intake fell 3 percent to 5.728 billion euros as defence and security activities remained flat and airlines failed to keep up strong purchases of in-flight entertainment systems seen a year earlier, Thales said. (Reporting by Cyril Altmeyer, Tim Hepher)

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