October 18, 2019 / 7:17 AM / 25 days ago

Thales shares slump after French group issues 2019 sales warning

FILE PHOTO: The logo of Thales is seen at the high profile startups and high tech leaders gathering, Viva Tech,in Paris, France May 16, 2019. REUTERS/Charles Platiau/File Photo

PARIS (Reuters) - Thales (TCFP.PA) shares slumped on Friday after the French defense electronics company cut its 2019 revenue growth forecast.

Thales shares were down 7.1% in early trading.

After the market close on Thursday, Thales cut its 2019 revenue growth forecast due mainly to slow sales of commercial satellites and production delays with an Australian military vehicle project.

Reporting by Sudip Kar-Gupta; Editing by Mark Potter

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