Safran 3Q Revenue Growth Beats Expectations

By Alberto Delclaux Features Dow Jones Newswires

France's Safran SA (SAF.FR) said Friday that third-quarter revenue grew 8.5%, driven by higher civil and military engine sales at its aerospace-propulsion business.

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Revenue for the three-month period was 3.82 billion euros ($4.4 billion), up from EUR3.52 billion the year before and beating expectations of EUR3.64 billion provided by FactSet.

Currency variations had a negative EUR103 million impact on revenue, Safran said.

The revenue growth came primarily from the aerospace-propulsion business, which grew by 12%--14.4% at constant currency--to EUR2.3 billion, on the back of civil and military engine programs.

"The production of LEAP engines continues to accelerate in Q3," said Chief Executive Philippe Petitcolin. "We are on track to deliver our target of over 450 engines in 2017."

Safran raised its full-year guidance for adjusted revenue growth to more than 3% from between 2% and 3% previously.

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Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

October 27, 2017 01:17 ET (05:17 GMT)