Saab profits rise in second quarter, order bookings fall

0 Comments | AFP, July, 2007

STOCKHOLM (AFP) — Swedish aviation and defence group Saab said Friday its second-quarter profit soared by 45 percent, exceeding analysts' expectations, owing to strong sales despite a plunge in orders.

For the period April-June, the group posted a net profit of 438 million kronor (47.85 million euros, 65.9 billion dollars), up from 301 million a year earlier, a Saab statement said.

Sales totalled 5.935 billion during the period, up by 15.35 percent from a year ago.

In the first six months of the year, sales reached 10.852 billion, exceeding analysts' forecasts of 10.629 billion.

In the second quarter, the group's operating profit rose by 55.9 percent to 630 million kronor, while operating margin climbed from 7.9 percent to 10.6 percent.

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