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Thales first-quarter net profit grows, operating results slump
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    • PARIS, July 27 (AFP) Jul 27, 2006
     The French electronics and defense company Thales reported a net profit of 172 million euros (218 million dollars) in the first quarter, a 5.0 percent increase over the same period last year, the company said in a statement Thursday.

    Operating profit however fell 5.8 percent to 273 million euros.

    Other figures showed earnings before tax and extraordinary items grew by 7.0 percent to 317 million euros, as consolidated revenue increased slightly by 2.2 percent, Thales said.

    The group confirmed its forecasts for this fiscal year, which were announced in March with the publication of its annual results for 2005.

    "We are confident that we will meet our goals," chief executive Denis Ranque said at a press conference.

    Those include achieving organic growth similar to the 3.8 percent reported in 2005, the company said.

    But Ranque noted that there will need to be a pickup in growth in the second quarter.

    Orders continued to grow in the first quarter, up 12 percent at 4.84 billion euros compared with 4.31 billion euros in the first quarter of 2005.

    Thales is a supplier to the aerospace and defence industry but also sells IT technology and services.




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