Thales reports stronger revenues

In its interim earnings report, French defense electronics manufacturer Thales said on Thursday that its revenues have risen 4 percent to €4.75 billion due to higher sales in five of its six divisions as its orders were beginning to increase once again, and were up 6 percent.

However, net profits in the first half were limited to €170 million, down €1 million from the same period last year. These results were considered fairly dull, as were its operating income figures, which were reported to be up from €300 million to €305 million but below expectations.

The company confirmed that it was on track to achieve its full-year forecast. Thales said that it had been awarded several European naval and military aerospace contracts recently that will help it complete the year in a satisfactory manner.

It also said it had a contract with the prime contractor for an Indian submarine program. All this news helped Thales’ shares to gain 2.6 percent to *37.90 in afternoon trade.

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