Saab first-quarter operating profit rises -Breaking

© Reuters. FILE PHOTO : A fighter jet from Sweden, the Saab JAS 39 Gripen, performs during Dubai Air Show (Dubai, United Arab Emirates), November 12, 2017. REUTERS/Satish Kumar

STOCKHOLM, (Reuters) – Swedish defense products manufacturer Saab announced Friday that it had reported record profits for the first quarter and promised to increase its capacity in order to satisfy further demand.

Saab’s operating profit, which is the maker of the Gripen fighter-jet, reached 654 millions Swedish crowns ($68.8million) during the quarter. This was an increase from the 597 million it earned in the previous year.

($1 = 9.5029 Swedish crowns