Saab ups goal as Q4 profit rises

Credit: REUTERS/Christopher Pike

Adds sales target, earnings, background

STOCKHOLM, Feb 9 (Reuters) - Swedish defence equipment maker Saab SAABb.ST raised its medium-term target of organic sales growth to around 15% on Friday as it reported a rise in fourth-quarter operating profit.

Saab has seen a surge in orders in the last two years as many countries scramble to bolster defences amid rising global tension, sending its share price up some 250% since Russia's full-scale invasion of Ukraine in February of 2022.

Operating profit for the October to December quarter rose to 1.42 billion Swedish crowns ($135.60 million) from a year-earlier 1.31 billion.

(Reporting by Marie Mannes, editing by Terje Solsvik)

((marie.mannes@thomsonreuters.com; +46 8 502 423 82;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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