October 18, 2018 / 4:54 AM / a month ago

French group Thales' 9-mth sales growth accelerates on defence wins

PARIS, Oct 18 (Reuters) - Thales expects to reach the top end of its financial goals for the year, the French company said as it posted accelerating nine-month revenues led by defence activities.

Europe’s largest defence electronics group said on Thursday that nine-month sales had risen 6.2 percent - or 7.9 percent on a like-for-like basis - to 10.873 billion euros ($12.50 billion).

Its fresh order intake reached 9.468 billion euros, up 7 percent from the same period last year, thanks in part to radio contracts for the London Underground and French military.

“The solid performance over the first three quarters of the year increases our confidence in Thales’s ability to meet its full-year objectives,” Chief Executive Patrice Caine said in a statement, adding Thales now expected to reach the higher end of targets it had set in March for revenue and operating profit.

Thales also reiterated it expected to close its takeover offer of Gemalto in the first quarter of 2019.

Thales' figures were published on the company's website. (bit.ly/2yjdijd)

$1 = 0.8699 euros Reporting by Tim Hepher, Cyril Altmeyer; Editing by Sudip Kar-Gupta

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