Boeing soars on rising demand for Dreamliner

Marion Dakers
BOEING shares took off yesterday after the plane manufacturer lifted its profit forecasts for 2013 and pledged to build more Dreamliners in the coming years.

The American firm said its consumer plane division, which makes up more than half of its revenues, posted a 15 per cent rise in turnover in the three months to the end of September, as it delivered 170 planes.

The company had already revealed plans to ramp up production of its latest 787 model, and said yesterday it will raise its output from 10 to 12 per month in 2016, with plans to increase to 14 per month before the end of the decade.

Overall revenues rose 11 per cent to $22.1bn (£13.7bn) in the quarter, reflecting a five per cent fall in revenues from military aircraft.

“Despite the uncertainty of the US defence market, overall our customer-focused business strategies and disciplined execution on our programs are producing the results we expect, and our strong year-to-date performance and positive outlook allow us to increase our 2013 guidance for earnings and operating cash flow,” said president and chief executive Jim McNerney.

The firm has lifted its full-year profit forecast to between $5.40 and $5.55 per share, up from its previous range of $5.10 to $5.30.

It left unchanged its full-year revenue forecast at between $83bn and $86bn, and its goal to deliver between 635 and 645 commercial aircraft this year. Boeing shares closed up 4.1 per cent in New York yesterday.