Boeing records 18pc rise in third-quarter profit on more sales

Nairobi; Kenya: Aircraft manufacturer Boeing’s third-quarter net income rose 18 per cent year-on-year to $1.36 billion (Sh121.2 billion) driven by the strong performance of its commercial airplanes unit.

The net profit was a $200 million (Sh17.8 billion) improvement over the 2013 September quarter figures.

The firm’s commercial unit increased third-quarter revenue by 15 per cent from the previous year, while operating profit rose 11 per cent.

The manufacturer delivered 186 commercial aircraft, including its Dreamliner range, in the third quarter, up 9 per cent from 170 delivered in the 2013 September quarter. It also booked 501 new orders during the quarter, increasing its backlog to 5,500 aircraft valued at $430 billion (Sh38.3 trillion). — Philip Mwakio