Simulation and training firm CAE, which is known mostly for its aerospace work, expects naval offerings to help increase its share of growing international demand for integrated defence training services.
CEO Marc Parent said in a conference call with analysts on 17 May that “the market is highly supportive, with governments placing a high priority on mission readiness and looking at outsourcing. We’re seeing good momentum as we convert a large bid pipeline into orders.”
CAE’s stock price spiked by nearly 15% following Parent’s comments and the publication of exceptionally strong results. Revenues increased by 42% during the fourth quarter of CAE’s 2019 fiscal year (FY) to CAD1.02 billion (USD757 million), and by 17% for the whole year to CAD3.3 billion.
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