Bombardier: quarterly profit up on lighter cost structure

(CercleFinance.com) - Bombardier reported a higher quarterly profit on Thursday as the world's number 3 civil aircraft maker benefited from a "more streamlined" cost structure.


The Canadian company reported net profit of 318 million dollars, or 9 cents a share, for its fourth quarter, compared to a net loss of 525 million dollars, or 24 cents per share, during the same period of 2017.

Bombardier, whose bigger rivals are Airbus and Boeing, also reported revenues of 4.3 billion dollars, down 7% from 4.6 billion dollars a year ago.

The group also reported a 19% rise in closely watched free cash flow, to over 1 billion dollars in the quarter.

As of 31 December, cash and cash equivalent came in at 3.2 billion dollars, up from 3.1 billion dollars at the end of 2017, Bombardier said.

The company confirmed its 2019 guidance and said it was on track to achieve its 2020 targets.

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