Boeing’s sales take off to record highs

Boeing’s sales in the last quarter of 2012 reached a record £14 billion, the US plane manufacturer has said.Boeing's sales take off to record highsIts backlog of plane orders also hit an all-time high of £260 billion as the company began delivering the first of its new flagship Dreamliner 787 jets.

The firm made net income of £652 million, down 30% from a year ago, when it benefited from an unusually low tax bill.

The figures pre-date the grounding of the 787 worldwide earlier this year by air regulators over a battery fault.

Boeing did not add to its existing comments on the investigation into the fault, repeating that it was co-operating fully with the US Federal Aviation Authority.

However, in a possible sign of confidence, Boeing said that its forecasts for revenues and profits this year were not being adjusted to reflect any impact from the suspension of Dreamliner flights.

Its revenues in the fourth quarter were up 14% from a year ago, driven almost entirely by a 32% increase at its commercial planes division.

For 2012 as a whole, revenues rose 19% to £54.4 billion, while net income was down a fraction at £2.6 billion. Boeing’s after-tax profits were dragged down by the reversion of its effective tax rate from a favourable 27% of earnings in 2011 to a more normal 34% last year.

“In a year of considerable achievement. Boeing was the commercial aviation market leader for both orders and deliveries, with more than 600 airplanes delivered, including the first Charleston-built 787 Dreamliners,” said chief executive Jim McNerney.

“Our first order of business for 2013 is to resolve the battery issue on the 787 and return the airplanes safely to service with our customers.”

March 1, 2013  Tags: , , , , , , , , ,   Posted in: Business Growth, Business Sales, Business Win, Flying Businesses, Global Business, Growing Business, Technological Businesses, Uncategorized

Leave a Reply