B/E Aerospace reports 'strong' 1H2016, raises 2016 and 2017 guidance

B/E Aerospace revenue up 8% - financial highlights:

• Three months ended 30-Jun-2016:
• • Revenue: USD753.1 million, +7.5% year-on-year;
  • • Commercial aircraft: USD610.8 million, +13.3%;
  • Operating profit: USD136.6 million, +7.3%;
  • • Commercial aircraft: USD114.6 million, +14.9%;
  • Net profit: USD84.8 million, +7.5%;
• Six months ended 30-Jun-2016:
• • Revenue: USD1470 million, +5.7%;
  • • Commercial aircraft: USD1168 million, +9.6%;
  • Operating profit: USD266 million, +5.1%;
  • • Commercial aircraft: USD219.3 million, +10.7%;
  • Net profit: USD167.4 million, +7.0%;
  • Total assets: USD3252 million;
  • Cash and cash equivalents: USD100.2 million;
  • Total liabilities: USD3133 million. [more - original PR]

B/E Aerospace: "Given our strong results for the first half of 2016 and excellent performance by our commercial aircraft segment, we are increasing our financial guidance for the full year 2016. Based upon the strength of our backlog, we are also raising our 2017 revenue growth rate outlook to approximately 7 percent over our 2016 updated and raised revenue guidance. This represents approximately a 6 percent compound annual growth rate over the two-year period 2016 and 2017," Amin Khoury, Executive Chairman. Source: Company statement, 26-Jul-2016.