Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

FACC Q3 operating profit up 8 pct due to solid demand from planemakers

Published 2019-01-17, 01:46 a/m
Updated 2019-01-17, 01:50 a/m
© Reuters.  FACC Q3 operating profit up 8 pct due to solid demand from planemakers

VIENNA, Jan 17 (Reuters) - Austria-based aeroplane parts maker FACC FACC.VI reported a 7.8 percent increase in third-quarter operating profit, helped by strong demand for components it produces for Airbus AIR.PA , Boeing (NYSE:BA) BA.N and Bombardier BBDb.TO .

The Chinese-owned group reported adjusted earnings before interest and tax (EBIT) of 17.1 million euros ($19.47 million) for the three months to Nov.r 30, up from 15.9 million last year. Revenues in the period increased 5.3 percent to 216.2 million euros, it said in Thursday.

The company, which was acquired by a unit of China's state-owned Aviation Industry Corporation of China 000768.SZ in 2009, still expects full-year operating profit to grow to between 52 and 55 million euros from 48 million in 2017/18.

It confirmed its full-year sales target of 760 to 770 million euros, up from 750.7 million last year.

FACC makes components for wings, tail assemblies and fuselages as well as engines and cabin interiors for the world's leading planemakers and is working on expanding in the services business, which it says is a $65 billion market. ($1 = 0.8781 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.