Profit Rise for Saab
Swedish aerospace and defense company Saab AB said Friday third-quarter profit rose 2.6 percent on strong sales.
Beating analysts’ expectations the company said net income rose to US$32.25 million; or (US$0.29 per share.
Sales rose 5.8 percent to US$580 boosted by a US$136 million order from the Swedish military for continued development of its Gripen fighter jet.
The company’s total sales growth forecast remained unchanged at nearly 10 percent for the full year 2006.
Operating margin will also reach 10 percent before structural costs.