PARIS – France’s Thales SA said on Tuesday that net profit for 2017 fell 13 percent, but that it exceeded all of its annual financial targets, according to a Dow Jones report.
The aerospace and defense company said net profit was 822 million euros ($1.01 billion) compared with 946 million euros the year before, weighed down by a sharp fall in capital gains on disposal of assets.
Sales rose 6.1 percent to 15.8 billion euros, boosted by strong growth at its defense-and-security unit.
Thales’s order intake in 2017 fell 10 percent to 14.92 billion euros due to a tough comparison basis in 2016, but beat its target of 14 billion euros, the company said.
Looking ahead to 2018, Thales said it expects its order intake to be at about 15.5 billion euros, while sales should grow organically between 4-5 percent.
The company said it had exceeded all of its financial objectives for 2017.
Thales proposed a dividend of 1.75 euros a share, up 9 percent from 2016.