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French group Thales sticks to 2021 goals despite contract blow By Reuters

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© Reuters.

PARIS (Reuters), – French firm Thales insists on its 2021 financial targets despite Naval Group, in which Thales holds a 35% share, losing a significant Australian contract. It said this Thursday.

“Thales does not expect any material impact of this announcement on the group’s 2021 EBIT (earnings before interest and tax) through Naval Group’s contribution,” it said.

Australia, Britain, and the United States had earlier announced they would create a security partnership in Indo-Pacific. It will allow Australia to purchase U.S.-powered submarines.

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