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Saab Q3 core profit falls, sees increased risk of pandemic impact

Credit: REUTERS/CHRISTOPHER PIKE

Swedish defence company Saab reported a fall in third-quarter profits on Monday and repeated that it could not confirm its previous financial outlook for the year due to the uncertainty caused by the pandemic.

STOCKHOLM, Oct 19 (Reuters) - Swedish defence company Saab SAABb.ST reported a fall in third-quarter profits on Monday and repeated that it could not confirm its previous financial outlook for the year due to the uncertainty caused by the pandemic.

Saab's adjusted operating profit fell to 445 million crowns ($50.3 million) from 518 million a year ago, while order bookings increased 8% to 10.15 billion crowns.

"Due to the ongoing pandemic and drawn-out global recovery, Saab now sees an increased risk related to the effects of Covid-19," the company, which was due to post third-quarter earnings on Oct. 22, said in the report.

($1 = 8.8500 Swedish crowns)

(Reporting by Helena Soderpalm; editing by Niklas Pollard)

((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters Messaging: helena.soderpalm.reuters.com@reuters.net))

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