shares of french aerospaceanddefense company thales fell in friday morning trading after the group narrowed its sales growth guidance for the year leading to lower projections due to recent exchangerate moves the group said friday that it now targets organic sales growth of 5 to 7 narrowing its previous 4 to 7 forecast despite raising the lower end of the range thales is estimating 179 billion euros to 182 billion euros 1992 billion2026 billion in sales based on july exchange rates below the eur18 billion to eur185 billion it had projected earlier this year jefferies analysts wrote in a note that foreignexchange swings more negative than initially anticipated effectively trigger a 1 cut in sales guidance the sales guidance update comes after thales reported firsthalf sales and earnings ahead of analysts forecasts led by growth at its aerospace and defense and security businesses the company posted sales of eur872 billion up 56 in reported terms and 77 organically thaless order intake came in at eur856 billion down 24 in reported terms and 23 organically net profit climbed 15 to eur649 million while adjusted net profit increased 13 to eur819 million earnings before interest and taxesthaless preferred measure of profitabilityrose to eur993 million from eur891 million in last years first half generating an 114 margin free operating cash flow came in at eur99 million compared with eur820 million last year analysts had forecast sales of eur864 billion an order intake of eur849 billion adjusted net profit of eur764 million ebit of eur980 million on a 113 margin and free operating cash flow of eur85 million according to a companyprovided consensus the group continues to expect an ebit margin between 115 and 118 this year