May 15, 2018 / 1:22 PM / 11 days ago

Italy's Leonardo CEO says DRS unit not yielding adequate returns

ROME, May 15 (Reuters) - The chief executive of Italy’s Leonardo said on Tuesday its U.S. unit DRS Technologies was not yielding adequate returns but that the group was happy with how it was going.

“Returns on DRS investment, which were very significant, are not adequate yet...,” CEO Alessandro Profumo told reporters at the group’s annual shareholders meeting.

Last year, former CEO Mauro Moretti had said the group intended to float DRS, keeping a 51 percent controlling stake.

Reporting by Alberto Sisto, writing by Stefano Rebaudo, editing by Giulia Segreti

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