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Altran Technologies cuts outlook, shares slump 11.96 percent

by Staff Writers
Paris, Aug 3, 2006
French consultancy group Altran Technologies reported a slight rise in sales on Thursday but warned it would miss its target for operating profit, and its shares fell by 12.0 percent in early trading.

Altran Technologies said that sales in the second quarter had risen by 1.6 percent on a 12-month basis to 374.3 million euros (477.2 million dollars).

The increase was attributable to international activities which had grown by 10.4 percent, it said, and had been achieved despite an unfavourable effect of the way the days of official holidays had fallen this year.

A fall of activity in France, combined with unexpectedly high pay inflation would not enable it to increase its recurrent operating margin in the first half of 2006 compared with the figure for the previous six months.

For the whole of the first half, sales rose by 3.0 percent to 745.9 million euros.

For the first half, the current operating margin would be higher than the margin in 2005 which had been 6.5 percent.

But the group said it did not now expect this figure to be an improvement on the figure for the previous six months of 7.2 percent.

In April, the company had said that its current operating margin should increase half-year by half-year in 2006.

The price of shares in Altran Technologies was showing a fall of 11.96 percent to 7.95 euros.

A broker in Paris who declined to be named, commented: "Altran has given a warning for its results and this is weighing on the shares."

The group has now signalled an operating margin of 6.5-7.2 percent which was below the figure broadly expected by analysts of 7.5-7.8 percent.

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