March 1, 2017 / 6:48 AM / 5 months ago

Defence unit drives profit jump at Germany's Rheinmetall

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FRANKFURT, March 1 (Reuters) - German defence and automotive group Rheinmetall reported a better-than-expected 23 percent year-on-year jump in 2016 operating profit on Wednesday, driven by its defence unit.

Earnings before interest and tax (EBIT) were 353 million euros ($373 million), above the 342 million-euro average estimate in a Reuters poll. ($1 = 0.9476 euros) (Reporting by Georgina Prodhan; Editing by Joshua Franklin)

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