|
Bombardier profit nearly triples |
|
Wednesday, 04 June 2008 |
|
Bombardier has announced strong financial results for the first quarter of 2008, with net income nearly tripling.
Business aircraft manufacturer Bombardier saw consolidated revenues increase by 21 per cent to $4.8 billion (£2.5 billion) in the first quarter of 2008, with earnings before tax of $321 million (£164 million), up from $183 million (£94 million) last fiscal year.
That is according to the company's latest financial report, which also revealed that net income reached $226 million (£115 million), compared to $79 million (£40 million) a year earlier.
Bombardier said that its strong financial results were a result of both its business and commercial aircraft enjoying strong demand, a fact demonstrated by the high level of net orders and deliveries logged in the three month period.
"Our first quarter results have shown marked improvement in all areas. The delivery on our large order intake of the past few years is fuelling the increase in revenues," said Laurent Beaudoin, chief executive of the aircraft manufacturer.
He added that with a backlog of $55.5 billions (£28.4 billion), both the commercial and business aircraft groups would continue to deliver profitable growth in the future.
 |
