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Latecoere H1 operating profit dips as new plant opens
September 2, 2014 / 5:58 PM / in 3 years

Latecoere H1 operating profit dips as new plant opens

PARIS, Sept 2 (Reuters) - French aerospace supplier Latecoere on Tuesday reported lower first-half operating profit, despite higher revenues as it bore the cost of opening a factory in Mexico and suffered a slowdown in the development of new aircraft.

The company, which makes doors, cabling and fuselage parts for Airbus and Boeing passenger jets, posted a first-half operating profit of 16.4 million euros ($21.5 million), down from 17.8 million a year earlier. It said revenues rose to 321.4 million euros from 310.4 million.

The company, which is in the midst of a turnaround after building up debts due to output delays among its main customers, said its operating result would improve in the second half.

The company’s “Operation Boost” restructuring plan has started to show positive effects, it said in a statement.

1 US dollar = 0.7614 euro Reporting by Tim Hepher; editing by Keiron Henderson

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