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DEFENCE LEADS THALES INCREASE

14 Aug 02. Thales SA said on Wednesday that revenue grew 15% in the first half of 2002 as a surge in defense sector sales offset a flat performance in information technology.

Thales said revenue for the period was EUR4.98bn, (2001: EUR4.33bn).

At the first-quarter stage, revenue growth was 17% to EUR2.14bn with
defense business again driving the company’s growth. Thales said revenue from defense operations grew 29% to EUR2.91bn in the first half, representing 58% of total sales, with airborne, air defense and naval systems the fastest-growing sectors.

On a like-for-like basis, Thales said the rate of growth was 21%.
In the information technologies and services segment, Thales said revenue was flat at EUR1.22bn, compared with a year earlier, while on a like-for-like basis sales were down 1%.

The total figure for the first half was above some analysts’ expectations. Credit Suisse First Boston had expected a figure of about EUR4.7bn, representing a 10% increase compared with the 15% actually recorded.

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