Profit boost for Thomson-CSF prompts share peak

Thomson-CSF, the French defence electronics group, has announced a rise in core profits of 29 per cent for the first-half period.

The company reported profit near the high end of analysts' expectations at E202m (£123m). Shares subsequently peaked at an all-time high of E53.90 (£33.05). Net profit, however, was down by more than 40 per cent, attributed largely to non-recurring capital gains. Thomson-CSF said the surge in core profit was due to a growth of order intake during the period, with its order book currently standing at a total of E15.3bn (£9.38bn). According to reports on Reuters, the company is considering floating parts of its IT and services businesses to finance expansion.