Bombardier posts $317 mn profit

April 3rd, 2008 - 9:27 pm ICT by admin  

Toronto, April 3 (IANS) Benefiting from huge contracts with India and China, Bombardier, the Canadian giant that manufactures aircraft and trains, has posted a profit of US$317 million, up $49 million from the last year. Thanks to a strong showing by its aerospace and rail equipment divisions, the company Thursday reported consolidated revenues of $17.5 billion, compared to $14.9 billion the last fiscal.

While the aerospace division showed a 17 percent jump in revenue to $9.7 billion, the figures at the rail equipment division rose by 18 percent to $7.8 billion.

The rail equipment division benefited from huge contracts with India and China.

The Montreal-based company also reported a record profit of $218 million for the quarter ending Jan 31.

The company said the profit was up by $106 million from the previous year as during the quarter ending Jan 31, its revenue rose from $4.42 billion to $5.27 billion.

Its net income stood at $317 million, compared to $268 million last year.

Bombardier saw a huge jump in free cash flow at $2 billion, compared to $610 million last fiscal year.

The company also reported a strong cash position at $3.6 billion.

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