PARIS Nov 21 Zodiac Aerospace
reported slightly higher-than-expected annual profits buoyed by
acquisitions and internal growth on Wednesday and predicted
further underlying growth in its 2012/13 financial year.
The French aircraft parts maker, which supplies both Airbus
and Boeing, said operating income rose 26
percent to 486 million euros ($622 million) for a steady margin
of 14.1 percent on already reported sales of 3.441 billion.
Net attributable income for the year to end-August rose 34
percent to 319 million euros, prompting the group to hike its
dividend by 17 percent to 1.4 euros a share.
Analysts were on average expecting operating profit of 481
million euros and net income of 314 million, according to data
compiled by Thomson Reuters I/B/E/S.
The company said the aerospace industry remained buoyant on
the back of traffic growth averaging 5 percent a year and rising
deliveries of commercial aircraft.
"In these conditions, Zodiac Aerospace expects organic
growth again in the new fiscal year, on a high comparison
basis," the company said in a statement.
Zodiac's 2011/12 revenue rose 26 percent on a reported basis
and 14.4 percent on a like-for-like or organic basis.
It announced a tentative deal to buy U.S. company IMS, which
specializes in "seat-centric in-flight entertainment" systems,
for an undisclosed sum after buying Heath Tecna and Contour
earlier in the financial year.
Zodiac shares closed on Tuesday at 79.66 euros, valuing the
Paris-based company at 4.5 billion euros.