Airbus glides beyond base profit target

15th January 2004, Comments 0 comments

PARIS, Jan 15 (AFP) - European aircraft manufacturer Airbus exceeded its target for underlying profits last year by 15 percent, company chairman Noel Forgeard said on Thursday.

PARIS, Jan 15 (AFP) - European aircraft manufacturer Airbus exceeded its target for underlying profits last year by 15 percent, company chairman Noel Forgeard said on Thursday.

Foregard told journalists: "We will exceed by 15 percent our own target for earnings before interest and tax (EBIT)."

The results for 2003 would be published in March, he said.

The company's net treasury position of funds available had increased by nearly EUR 600 million (USD 756 million) at the end of 2003 from the figure at the end of 2002, he said.

Noting that the company had launched a plan in 2003 to reduce demands on funds available by EUR 1 billion, he said: "We have broadly succeeded in this field."

© AFP

                                Subject: France news

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