Aerospace branch boosts Honeywell profits 22 per cent
(dpa) - Honeywell
International Inc, the world's largest maker of airplane controls, Friday
reported a 22 per cent boost in first quarter profits over the same period last
year, exceeding analyst expectations.
Net income climbed to 643 million dollars, the New Jersey-based company said in a statement today. Sales rose 11 per cent to 8.9 billion dollars, of which two-thirds came from outside the US.
Foreign business and commercial aviation and business jet orders lifted aerospace, which made up 34 per cent of the quarter's total revenue, Bloomberg financial news service reported.
Sales at the automation and control systems unit rose 14 per cent on acquisitions and higher demand for energy-conservation devices from global building projects.
Record oil prices have boosted orders for Honeywell's refining equipment.