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.