Search This Blog

Thursday, February 26, 2015

Thales predicts rebound after DCNS losses hit 2014 profit

Thales logoFrance's Thales posted lower full-year profit on Thursday after cost overruns on military submarines at its DCNS naval subsidiary but predicted a return to profitability this year as the unit rights itself.

Europe's largest defence electronics group said operating profit fell 3 percent to 985 million euros ($1.12 billion) after problems on the Barracuda nuclear submarine programme pushed the contribution from its 35 percent stake in shipyard DCNS sharply into the red.

Excluding DCNS, operating income rose 13 percent to 1.102 billion euros, as sales rose 2 percent to 12.974 billion, while net attributable income fell 12 percent to 565 million.

Read more

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.