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Bombardier earnings dive
AMY-JO CROWLEY
CANADIAN train-maker Bombardier said yesterday that its results are “not reflective of our potential” after it reported a 93 per cent drop in fourth-quarter earnings to just $14m (£9.2m).
Full-year profits at the firm fell to $692m from $865m, hurt by a restructuring charge in its transportation division, while revenues dipped to $16.8bn from $18.3bn.
Bombardier said it expects revenue in its transportation and aerospace divisions to be higher this year. The firm’s Canadian-listed shares fell over eight per cent.