Big rise in sales for Safran
By Sarah Wood | 28th October 2022
Jet engine maker and aerospace supplier Safran posted a 29.9 per cent rise in third-quarter revenues.
Safran, which has a facility in Gloucester, co-produces engines for the Boeing 737 with General Electric.
On a like-for-like basis, Safran's quarterly revenues grew 17.9 per cent to 4.849 billion euros (£4.18 billion) led by propulsion and interiors, as reported by Reuters.
Safran said it now expected full-year revenues to reach 19 billion euros (£16.39 billion) versus a previous target of 18.2-18.4 billion (£15.7 - £15.87 billion) on the basis of services growth and a stronger assumed dollar rate.
Chief Executive Olivier Andries said the improved outlook reflected currencies and "confidence in our ability to deliver," striking a contrasting note to Boeing which on Wednesday had said engines were its main output constraint.
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