Safran Q1 revenue rises 7.8% to €4.24bn

France’s Safran on Tuesday posted a slightly higher-than-expected 7.8% increase in first-quarter revenue to €4.24bn (US$4.77 bn), led by double-digit aero engine and security gains, and reaffirmed full-year targets. Revenue grew 6.7% on a like-for-like basis, while civil aftermarket revenue rose 8.6% in dollar terms, in line with its goals for the year. Safran, which partners General Electric in building engines for Airbus and Boeing medium-haul airliners through their CFM International joint venture, said its new LEAP engine remained “on track and on time”.