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Jet engine maker Safran raises 2013 target after sales jump

French aerospace group Safran raised on Tuesday its 2013 sales target after posting an annualised 9.5 percent jump in the first quarter of the year, and said it would buy Rolls-Royce's half of a helicopter engine joint venture. Safran reported sales of 3.4 billion euros ($4.4 billion) in the first three months of the year from both its widely-used aircraft engines and aftermarket services.

France raises 450 mn euros by selling shares in Safran

France sold Wednesday a portion of its holding in the aircraft engine and equipment manufacturer Safran to raise 448.5 million euros ($573 million). After the sale of a 3.12 percent stake in the company, a global leader in engines, landing gear and electrical systems for aircraft, the French state was still the top shareholder with a 27.08 percent holding. The Economy Ministry said that the French state intends to remain a long-term shareholder in Safran, but wanted to take advantage of a 40 percent gain in the company's share price in 2012.

Safran aero-engine group reports record profits

French aero-engine maker Safran reported on Thursday a record net profit of nearly 1.0 billion euros ($1.32 billion) in 2012, an increase of 55.0-percent from the 2011 level, and said that the outlook for this year was "very good". Sales were boosted by strong demand from the aircraft-making sector and rose to 13.5 billion euros, an increase of 15.5 percent compared with a target of slightly more than 10.0 percent. Current operating profit rose by 23.7 percent, beating the group's target of 20.0 percent.

Safran aero-engine group reports record profits

French aero-engine maker Safran reported on Thursday a record net profit of nearly 1.0 billion euros ($1.32 billion) in 2012, an increase of 55.0-percent from the 2011 level, and said that the outlook for this year was "very good". Sales were boosted by strong demand from the aircraft-making sector and rose to 13.5 billion euros, an increase of 15.5 percent compared with a target of slightly more than 10.0 percent. Current operating profit rose by 23.7 percent, beating the group's target of 20.0 percent.
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