AVIC Aircraft saw operating profits for the first half of the year increase to CNY270 million ($37.7 million), a 54% increase compared to the same period last year.
The Chinese airframer saw revenue for the period come in at CNY14.7 billion, 10.5% higher than a year ago. Expenses for the period climbed 9.9% to CNY14.5 billion.
Attributable net profit for six months ended June 30 was CNY224 million, a 38% increase from the same period last year.
AVIC Aircraft’s cash and cash equivalents at the end of the period was CNY3.48 billion, lower than the CNY4.76 billion last year.
AVIC Aircraft manufactures parts for the Airbus A320, MA60 turboprop and the ARJ21 regional jet, as well as ground equipment. It is also developing the MA700 turboprop.
Source: FlightGlobal.com
