ERJ staff report (DS)
Issy-les-Moulineaux, France -- Zodiac Aerospace saw sales and profits fall in the first half of the current financial year. The company said revenues declined by 13 percent to euro 966 million compared to euro 1107 million in the equivalent period last year. Operating income fell by a third, to euro 76.5 million, from euro 115.2 million a year ago. The company said its results were affected by the economic crisis which has been affecting the whole of the aeronautical equipments manufacturing sector and by an unfavorable euro/dollar exchange rate compared to H1 2008/2009.
Zodiac said The second quarter proved to be more positive than the first, with sales down 5.7% on a like-for-like
basis at constant exchange rate, compared with a fall of 9.7% in the first quarter.
The company makes seats and interior systems for the aerospace sector. In 2009, the company changed its name from Zodiac, by adding the Aerospace tag, following the sale in 2007 of its marine business, including the well-known inflatable boats to private equity firm, Carlyle.
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Press release from Zodiac Aerospace