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Corporate-jet maker Textron's profit falls 46.8 pct
October 19, 2017 / 10:42 AM / a month ago

Corporate-jet maker Textron's profit falls 46.8 pct

Oct 19 (Reuters) - Textron Inc, the maker of Beechcraft and Cessna airplanes, reported a 46.8 percent fall in its profit, partly due to lower sales at its aviation business.

The company said its income from continuing operations fell to $159 million, or 60 cents per share, in the third quarter ended Sept.30, from $299 million, or $1.10 per share, a year earlier.

In the year earlier, profit included a tax benefit of $206 million attributable to the company’s continuing operations.

The company’s revenue rose 7.2 percent to $3.48 billion. (Reporting by Arunima Banerjee in Bengaluru; Editing by Arun Koyyur)

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