COPENHAGEN (Reuters) - Swedish defence equipment maker Saab reported on Thursday a 44% rise in second-quarter operating profit, citing a solid order intake, and raised its organic sales growth guidance for the full year.
Operating profit at Saab, maker of the Gripen fighter jet, was 1.06 billion crowns ($103.5 million), up from 738 million a year earlier.
The company said it now expected organic sales growth of 16-20% in 2023, against previous guidance for 15%.
Saab, which competes with U.S. defence giant Lockheed Martin (NYSE:LMT), France's Dassault and Britain's BAE Systems (LON:BAES), has seen strong demand for its products over the past year as the war in Ukraine has lead many nations to increase military spending.