Saab raises sales forecast as profit grows on military spending boom

"Market activity was high and demand was strong," CEO Micael Johansson said in the report. "We are well positioned to capture growth opportunities. In parallel, we are increasing investments in new technology and research and development", he said.

Saab, whose products range from missiles and advanced electronics to submarines, raised its like-for-like full-year sales growth forecast to 20-24 per cent, even as order intake shrank slightly in the quarter. Its previous forecast, from July, was for 16-20 per cent growth.