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Saab says 2Q profit climbed 48 per cent on sold results from

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STOCKHOLM (AP) _ Saab AB's profit rose 48 per cent in the second quarter, driven by solid results from its defence and security solutions, and systems and product divisions, the company said Friday.

Saab posted a profit of 630 million kronor ($95 million) for the period that ended June 30, up from 404 million kronor in the same period last year.

The Stockholm-based company said revenue for the second quarter increased to 5.94 billion kronor ($895 million), up from 5.15 billion kronor in the same period in 2006.

CEO Ake Svensson said the first half of 2007 had been ``a stable, forward-looking period for Saab.''

``Order bookings remained satisfactory, sales increased and income was stable,'' he said. ``During the second quarter, important acquisitions were complemented by future-oriented partnerships of major significance.''

Orders for the second quarter came in at 2.95 billion kronor ($444 million), compared with 11.43 billion kronor for the same period last year.

Swedbank analyst Mats Liss said net profit and margins were good, although the order book was a bit on the weak side. However, he said the orders vary a lot between quarters and that the outlook seems positive.

Saab said second-quarter sales for Defense and Security Solutions rose to 2.26 billion kronor ($341 million), up from 1.93 billion kronor in the second quarter, mainly due to the increased scope of the new business unit Saab Surveillance Systems.

Saab sold its automobile division to General Motors Corp. in 2000.


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Saab says 2Q profit climbed 48 per cent on sold results from
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