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European and US defence companies report third quarter profits

28 October 2016

European and US defence companies began publishing reports covering the third quarter of their 2016 financial year on 24 October, with results revealed ranging from a 21.5% rise in operating income at Saab to a 29.3% fall in Airbus's profits on a similar measure.

Airbus and Safran

The same day as rival aerospace giant Boeing reported falls in its sales and profits in the third quarter, Airbus released a similarly underwhelming set of results. Group revenues remained more robust than Boeing's, falling just 0.9% from the same period in 2016 to EUR13.95 billion (USD15.23 billion). However, the company's earnings before interest and taxes (EBIT) of EUR507 million in the quarter was down by 29% year on year.

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