Honeywell profit up 22 percent

Fri Apr 18, 2008 7:09am EDT
 
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BOSTON (Reuters) - Diversified U.S. manufacturer Honeywell International Inc (HON.N) said on Friday profit rose 22.2 percent on strong demand from the aviation and commercial construction sectors.

The world's largest maker of cockpit electronics reported first-quarter profit of $643 million, or 85 cents per diluted share, compared with $526 million, or 66 cents per share, a year earlier.

Revenue at the company, which also makes thermostats and other control systems for large commercial buildings, was up 10.6 percent.

Honeywell's results have been boosted of late by robust demand for aircraft as well as continued strong investment in airports, refineries and other infrastructure projects, particularly in the developing world.

So far this year, Honeywell shares have declined about almost 7 percent while the Standard & Poor's capital goods industry index .GSPIC is down about 8 percent.

(Reporting by Scott Malone, editing by Mark Porter)

 

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