French jet engine maker Safran, which has a base in Gloucester, has announced a record set of results.

For the full year ending December 31, 2024, Safran saw revenues and profits soar to a record level and revised its 2025 profit outlook upwards.

Safran's revenue for 2024 was €27,317 million (+17.8%) and recurring operating income was €4,119 million (+30.1%).

Together with GE Aerospace, Safran co-produces the best-selling LEAP engine for all Boeing and most Airbus narrow-body jets through their CFM International joint venture.

Safran CEO Olivier Andriès said: "Thanks to the efforts of our teams and despite persistent supply chain difficulties as well as residual inflationary pressures, Safran delivered another remarkable year with revenues, profits and cash flows reaching record levels.

"The operating margin grew by 150 basis points to 15.1% of sales, driven especially by strong aftermarket activity across the board, a relentless focus on operational excellence and the return to profitability of Aircraft Interiors.

"In 2025, meeting our airframer and airline customers' requirements and improving industrial performance in both original equipment and MRO remain our priorities to continue our profitable growth.

"In terms of capital deployment, we expect to close the Collins' actuation and flight control activity by mid-year, propose to our forthcoming shareholder's annual meeting a €2.90 dividend per share, and initiate the execution of our €5 billion share buyback program."