EADS posts 26% rise in Q3 profit

[TOULOUSE, France] European Aeronautic Defence and Space Company (EADS) posted a 26 per cent increase in third-quarter profit after its Airbus SAS unit delivered more commercial aircraft.

Earnings before interest and tax (Ebit), goodwill impairment and exceptionals rose to 663 million euros (S$1.11 billion) from 526 million euros a year earlier, as sales grew 11 per cent to 13.63 billion euros. Analysts in a Bloomberg survey had predicted 664 million euros in profit. EADS cut its cash-flow outlook.

"We achieved good improvement in revenues and profitability over the first nine months thanks largely to our civil aircraft business" CEO Tom Enders said. Airbus, which contributes more than two-thirds of revenue and the majority of profit, delivered 504 planes through the end of October.