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Thursday, February 17, 2011

A400M, other charges push Thales into red

a400mThales is to report a 2010 operating loss of €100 million ($135 million) after taking a remarkable €700 million charge against its troubled supply contracts for the Airbus Military A400M, Turkish Meltem maritime patrol aircraft and a Danish ticketing project.

In a preliminary results announcement, it says its full-year figures, to be released on 24 February, will show revenue up 2% to €13.1 billion at the aerospace, defence and transport electronics and systems group.

However, the rise is mostly driven by favourable exchange rate movements - revenue would actually have fallen by 1% at constant scope and exchange rates.

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