Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Latecoere cuts sales goal after new Boeing delay

Published 09/15/2009, 01:22 PM
Updated 09/15/2009, 01:27 PM

PARIS, Sept 15 (Reuters) - French aerospace supplier Latecoere trimmed its 2009 sales guidance on Tuesday, citing a new delay in Boeing 787 Dreamliner programme.

Latecoere now expects a 25 percent drop in full-year sales on a like-for-like basis, compared to a previous target for a 20 percent fall, the company said in a statement after posting a 14.1 percent rise in half-year net profit to 9.7 million euros.

The date of the first test flight of the lighter, more fuel-efficient 787 aircraft, has been put off repeatedly because of production problems and a labour strike, hurting Boeing's credibility as it grapples with the commercial aerospace slump.

The test flight is now expected by the end of the year.

Wiring problems had also delayed by two years the delivery of the superjumbo Airbus A380. Airbus is another key client of Toulouse-based Latecoere.

Latecoere said its order book stood at 2.275 billion euros at the end of June, representing more than four years of sales.

(Reporting by Marie Maitre; editing by Elaine Hardcastle)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.