Alten shares rise on strong H1 results, second guidance raise
BUZZ-Alten shares rise on strong H1 results, second guidance raise ** Shares in Alten LTEN.PA jump 4% after it raised FY guidance again following strong H1 results
** The French IT services group reports H1 revenues at €2.11 billion ($2.40 billion) up 1.2% y/y in reported figures, while operating profit jumps 23.2% and net profit 37.8%
** "Even a modest return to growth generates significant operating leverage," says TP ICAP Midcap
** The broker says growth is driven by operational efficiency gains including a near-stable wage bill despite a 1.4% increase in headcount
** Alten now targets organic growth of between 1.7%-1.9% (prev.: 1.4%-1.8%) and an operating margin of close to 9.2% (prev.: about 9%), citing stronger-than-expected activity in its aerospace and defence business
** The stock is the top performer on the SBF120 index .SBF120
($1 = 0.8787 euros)
(Reporting by Clement Martinot)