France’s Safran (SAF.PA) had its shares are pulled up by aerospace investors who set aside recent worries about the economy in light of the company posting a strong third quarter sales and stated that 2014 profit forecasts would be met with ease.
A “very active” commercial aviation market is what the manufacturer of defense and security equipment as well as aero engines described it, as the company has seen astronomical production levels as airlines in an effort to pull down fuel bills are upgrading their jets.
A percentage of growth of the civil aftermarket in the “low to mid-teens” was the partial basis for the targets of Safran for the year 2014 which are a “mid-single digits” percentage growth for revenue and “approaching the mid teens” for its central operating income.
Deputy CEO and Finance Director Ross McInness stated that the company’s ease and comfort in confirming the full year profit outlook was due to the good quality of mix in its civil after market.
Chief Executive Jean-Paul Herteman went on to state that the company has absolutely no worries regarding the contribution to results their service activity will have this year.