MILAN, July 29 (Reuters) - Italian defence group Leonardo
stuck to its full-year guidance after its government
and military business more than offset weakness in civil
aviation to boost first-half earnings.
Between January and June, earnings before interest, tax and
amortisation (EBITA) rose 37% over the prior year to 400 million
Revenues grew 7.9% thanks to solid demand for helicopters
and defence electronics. Leonardo's aerostructure business,
which makes parts for Boeing and Airbus, saw a
35.5% fall because of the protracted negative impact of the
Leonardo expects full-year core earnings of between 1.075
billion and 1.125 billion euros and a fall in net debt to 3.2
Leonardo CEO Alessandro Profumo said in a statement the
group remained cautious on the timing of an eventual recovery in
civil aviation despite some recent "positive signs."
The Rome-based group also said it was sticking to a plan to
list its U.S. unit DRS when market conditions allowed, after
pulling the initial public offering in March due to expected
cuts in U.S. defence spending.
Earlier on Thursday, Leonardo and other partners were
awarded a 250 million pound contract under Britain's Tempest
fighter jet project.
(Reporting by Andrea Mandalà, editing by Valentina Za and