July 19, 2018 / 5:25 PM / a year ago

Dassault Aviation H1 net profits rise, company confirms 2018 targets

A Dassault Aviation logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) at Geneva Airport, Switzerland May 28, 2018. REUTERS/Denis Balibouse

PARIS (Reuters) - Aerospace company Dassault Aviation (AVMD.PA) reported higher adjusted first-half net profits on Thursday, and confirmed its 2018 financial targets.

Dassault Aviation said adjusted net income had risen 12 percent from last year to 186 million euros (165.57 million pounds), with the order intake for the first-half of the year standing at 2.81 billion euros compared to 1.42 billion a year earlier.

Adjusted first-half net sales fell 17 percent to 1.71 billion euros, reflecting lower sales of the Falcon jet compared to a year ago, but Dassault Aviation stuck to its overall 2018 financial targets.

“The group confirms its forecasts published on March 8, 2018, namely the delivery of 40 Falcon and 12 Rafale (3 to France and 9 for Export) and 2018 net sales should be close to 2017’s,” the company said in a statement.

The Dassault family controls the majority of Dassault Aviation, while Airbus (AIR.PA) has a 9.9 percent stake in the group.

Reporting by Sudip Kar-Gupta; Editing by Leigh Thomas

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