July 29, 2016 / 5:00 AM / a year ago

Safran H1 core income up 11.8 percent

PARIS, July 29 (Reuters) - France’s Safran posted an 11.8 percent rise in first-half core profit on Friday, driven by demand for aircraft equipment like wheels and brakes, and reaffirmed core financial targets.

Recurring operating profit at the maker of airplane engines, defence and identity verification equipment rose to 1.309 billion euros as revenues grew 6.3 percent to 8.936 billion euros, led by aerospace services and security activities.

Analysts had on average been expecting recurring operating profit of 1.21 billion euros on revenues of 8.852 billion euros, according to Thomson Reuters data.

The widely watched civil aftermarket, or spares and repair revenues, rose 8.5 percent in dollar terms, driven mainly by overhauls of recent CFM56 and GE90 engines: two types that respectively power short-haul planes and the Boeing 777 long-haul jet.

Reporting by Tim Hepher, Cyril Altmeyer, Editing by Victoria Bryan

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