Austria's FACC proposes dividend hike despite profit drop
28/03/2019 14:29
VIENNA, March 28 (Reuters) - Plane parts maker FACC
FACC.VI proposed a dividend increase for its 2018/19 business
year on Thursday, despite a 36 percent slump in profit, due to
write-offs relating to Airbus' AIR.PA production halt of its
A380 supberjumbo.
The group, which also makes components for Boeing BA.N
planes but not for the 737 MAX series, said it would propose to
increase the 2018/19 dividend to 0.15 euros per share from 0.11
euros per share the previous year.
Full year earnings before interest and tax (EBIT) came in at
41.0 million euros ($46.01 million) on sales of 780.1 million
euros, the company said.
FACC, owned by China's Aviation Industry Corporation (AVIC)
000768.SZ , generates roughly half its revenue from European
planemaker Airbus AIR.PA .
It cut its profit forecast last month and said it would
write off 12 million euros due to the production
stop. urn:newsml:reuters.com:*:nL5N2097JP
($1 = 0.8910 euros)
(Reporting by Kirsti Knolle
Editing by Alexandra Hudson)
((kirsti.knolle@thomsonreuters.com; +43 1 53112 255; Reuters
Messaging: kirsti.knolle.thomsonreuters.com@reuters.net
www.reuters.com))