United Technologies profit falls

United Technologies reported a 26 per cent decline in profit, reflecting large restructuring charges at the end of a year that saw the company close its largest-ever acquisition and sell several small units. The diversified US manufacturer said yesterday the fourth-quarter earnings from continuing operations fell to $945m (£596.8m) from $1.28bn a year earlier. Per-share profit from continuing operations came to $1.04, down from $1.42 a year ago.