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Thales maintains this year's profit targets

Staff Writer | October 20, 2016
French defence firm Thales said it had won 10.216 billion euros in new orders in the first nine months of the year, up 1 percent on a like-for-like basis and pulling ahead of revenues which grew 10.8 percent to 10.033 billion.
Thales   A "mid-single-digit" organic growth
Orders were boosted by a deal for France to supply India with 36 Rafale combat jets, for which Thales builds the radar.

The partially state-owned group upgraded its full-year target for fresh orders to 15.5-16.0 billion euros. It had previously forecast orders close to levels seen in 2013-14, when it said the order intake had averaged 13.6 billion euros.

Thales said fourth-quarter sales would be dampened by a strong basis for comparison, but that the momentum seen in the first nine months, led by growth in emerging markets, would push full-year organic sales up by slightly more than 5 percent.

For 2016, it had previously targeted a "mid-single-digit" organic growth in sales, or a more specific numerical target of "around 5 percent" in the French version of its guidance.

Thales maintained its medium-target target for organic sales growth of around 5 percent, but averaged over 2016-18 instead of 2017-18 in its previous outlook.

It maintained profit targets including 1.3-1.33 billion euros of operating income this year.