Thales' transport segment turnaround is gaining traction.
Thales reported strong full-year 2017 results as revenue increased 7.2% on an organic basis and margins expanded 70 basis points year on year despite increased spend on research and development, or R&D, predominantly in the aerospace segment. Order intake was down 9% on an organic basis compared with the year-ago period. We view this as a good performance, given the high comparison base, as Thales saw record-high order intake in 2016, including the large contract related to the order of 36 R...
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