EADS posts strong profits

EUROPEAN defence and aerospace giant EADS benefited from double-digit revenue and profit growth last year, boosted by a strong performance from its Airbus division.

Net profit jumped 19 per cent to €1.2bn (£1bn), on revenues 15 per cent higher at €56.5bn.

Revenues at aircraft maker Airbus rose 17 per cent to €38.6bn, reflecting strong commercial sales.

For 2013, EADS is targeting €3.5bn in operating profit, and “moderate growth” in revenues.

Chief executive Tom Enders said that "bottom line growth" remained the number one priority for EADS.