Saab Third Quarter Profit and Orders Rise on Ukraine Deal
Swedish defence group Saab reported a larger than expected rise in third quarter operating profit and a surge in order bookings. The results were driven by strong global demand and a major Gripen fighter jet order from Ukraine.
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SAAB AB-B reported operating profit rose to 1.95 billion crowns ($197 million) on Friday morning, driven by a Gripen fighter jet order from Ukraine. The result beat the 1.91 billion crown mean forecast in an LSEG analyst poll. Order bookings surged 216% year-on-year, propelled by European rearmament following the invasion by Russia.
