Good Week
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© Umeco |
UMECO Interims were strong despite some Boeing strike headwind, with pre-tax profit up 60% to £13 million ($20.7 million) on sales up nearly a third to £197.2 million. Supply chain management for Rolls-Royce is growing, and a new ATK contract boosted that unit. Composite materials, says chief executive Clive Snowdon (pictured), looks "remarkably good" - 787 delays could hurt over the next six to eight months, but Airbus is "going from strength to strength".
Bad Week
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© Embraer |
EMBRAER Currency hedging gone wrong put the airframer's third-quarter profits into a nosedive, losing 70% to $57.7 million despite an 8% rise in sales, to $1.54 billion, a one-unit increase in deliveries, to 48 aircraft, and foreign exchange gains of $58.7 million. Earnings were hammered by a derivatives loss of $92.9 million in the quarter related to a drop in the value of the Brazilian currency. Most Embraer revenue is denominated in US dollars.
Source: Flight International
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