March 27, 2017 / 6:55 AM / 4 months ago

French group Latecoere eyes higher 2017 profits after surge in 2016 earnings

1 Min Read

March 27 (Reuters) - French aerospace equipment maker Latecoere expects recurring operating profits to grow in 2017, as restructuring measures offset an overall decrease in its business.

The company said on Monday that it expected business to decline by around six percent in 2017, but nevertheless predicted a slight increase in recurring operating profits.

Latecoere, which supplies fuselages, doors and electrical wiring systems to aircraft manufacturers, more than doubled its recurring operating profit for 2016, as the company benefited from decreasing assembly times for the Airbus A350 plane and lower unit costs in aerostructure programmes.

The company reported recurring operating income of 47.9 million euros ($52 million), more than two and a half times higher than in 2015.

$1 = 0.9211 euros Reporting by Alan Charlish in Gdynia; Editing by Sudip Kar-Gupta

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