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Bombardier profit rises; Pierre Beaudoin Named CEO

Bombardier profit rises; Pierre Beaudoin Named CEO

Bombardier posted a 23 percent gain in fiscal third-quarter profit and named Pierre Beaudoin as chief executive officer. The shares rose the most in three weeks.

Net income climbed to $ 91 million, or 5 cents a share, from $ 74 million, or 4 cents, a year earlier, the Montreal-based company said today, matching analysts´ expectations. Sales in the three months ended Oct. 31 rose 24 percent to $ 4.23 billion.

Bombardier, which also makes trains, trams and subway cars, is benefiting from orders for its Q400 turboprop from airlines looking to trim their fuel bills, and for its Lear and Challenger business jets from wealthy executives.

Beaudoin, who´s worked 22 years at Bombardier, including the past six as aircraft unit head, will take over as CEO June 4. The 45-year-old McGill University graduate succeeds his father, Laurent Beaudoin, who will remain chairman.

According to Bloomberg

/ Новости