B/E Aerospace has reported a net profit of $41 million for the third quarter, a 14% increase compared with the same period last year.
Revenues at the US-based cabin and interiors specialist were up 8% to $495 million. The company's operating profit for the quarter increased 20% to $83 million.
B/E CEO Amin Khoury attributes the improvement in operating profits to "solid revenue growth and substantial margin expansion at both our consumables management segment (CMS) and our commercial aircraft segment (CAS)".
At its commercial aircraft business, revenues were up 12% to $193 million and operating profits surged 30% to $39 million.
Khoury says B/E is now expecting "strong" earnings next year "based on our record backlog, our expectation of continued growth in passenger travel and higher levels of widebody aircraft deliveries beginning in 2011".
Earlier today B/E announced the acquisition of Satair's aerospace fastener distribution business for about $162 million.
Source: Air Transport Intelligence news
