Safran, the company formed by the merger of engine supplier Snecma and high-tech manufacturer Sagem, has posted sales of €2.4 billion ($3 billion) for the first quarter of 2005, based on international financial reporting standards (IFRS). Under French reporting standards, the total is €2.5 billion, a 4.5% rise compared pro forma, by adding the totals of the two companies.

Growth in the service business and increased helicopter engine deliveries boosted the company's propulsion division sales to €1.08 billion, under French reporting standards – 7.4% higher year-on-year. The largest increase was in the equipment division, where sales grew by 9.6% to €663 million, because of increased activity in wiring, wheels, brakes and nacelles.

The company's defence and security division saw a rise of 6.5% to €263 million, but its communications branch saw sales slip 5.2% to €551 million as mobile phone sales fell.

Source: Flight International