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Rheinmetall beats expectations for defence earnings
November 7, 2017 / 6:58 AM / 11 days ago

Rheinmetall beats expectations for defence earnings

FRANKFURT, Nov 7 (Reuters) - German defence and automotive group Rheinmetall beat expectations for earnings at its defence unit in the third quarter thanks to its vehicle systems division, which was boosted by an order for military utility vehicles in Australia.

The operating result in the defence unit jumped 53 percent to 46 million euros ($53 million), beating the average estimate of 35 million euros in a Reuters poll.

Rheinmetall reiterated its full-year outlook for organic sales growth of around 6 percent for the group and an operating return of slightly over 6.5 percent. ($1 = 0.8618 euros) (Reporting by Georgina Prodhan; Editing by Douglas Busvine)

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