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Bombardier hit by bad timing of train orders
CANADIAN train and plane maker Bombardier said yesterday that the timing of major train contracts hurt revenue and profit in the second quarter as big projects in the Asia-Pacific and European markets had been wrapped up, while new orders were in start-up phase.
Despite the 12 per cent drop in quarterly revenue, which came in below analyst expectations, Bombardier maintained its financial forecasts, saying it expects 2012 full-year revenue to match last year’s. Profit for the quarter that ended 30 June, fell to $182m (£116m) from $211m a year earlier.