General Dynamics has announced greater earnings for 2017 with all divisions reporting improved margins.
The US-headquartered group said that sales were broadly flat for the year at USD31 billion (2016: USD30.6 billion) but operating earnings jumped 12% to USD4.2 billion.
Phebe Novakovic, chairman and chief executive officer, said in a 24 January statement, “General Dynamics delivered strong results in 2017, with growth in revenue, earnings, margins, and earnings per share.”
The group’s Combat Systems division saw sales climb 8% to USD5.95 billion while operating earnings climbed 12.8% to USD937 million. The group credited “multiple significant contracts” including “awards to modernise Abrams tanks ... and several orders across our European vehicle business” with improving its position.
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