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Textron Profit Rises 38%; Annual Forecast Boosted

Textron Profit Rises 38%; Annual Forecast Boosted

Textron Inc., the world´s biggest maker of business jets through its Cessna unit, said third- quarter profit rose 38 percent, helped by increased aircraft deliveries. The company boosted its full-year forecast. Profit from continuing operations climbed to $242 million, or 95 cents a share, from $175 million, or 68 cents, a year earlier, the Providence, Rhode Island-based company said in a statement today sent on Business Wire.

Commercial aircraft deliveries rose as the strengthening economy prompted companies to buy more Cessna corporate jets. Textron also sold more aircraft to foreign customers. Cessna Chief Executive Officer Jack Pelton forecasts jet-aircraft deliveries this year to jump 24 percent to 380 planes.


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