Saab profit edges past forecast as defence orders surge

Swedish defence and security company Saab
CEO Micael Johansson during the presentation of
Saab's interim report in Stockholm

STOCKHOLM (Reuters) -Swedish defence equipment maker Saab reported a slightly bigger-than-expected rise in quarterly operating earnings and maintained its outlook for surging sales and profits this year as countries race to scale up militaries.

Saab repeated on Friday its forecast for sales to grow organically by 15-20% this year, with operating earnings to rise even more.

The maker of defence material including missiles, submarines and the Gripen fighter jet said operating profit rose 25% to 1.33 billion Swedish crowns ($125 million) in the second quarter, just ahead of the 1.29 billion seen by analysts according to LSEG estimates.

By Niklas Pollard.

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