Sao Jose dos Campos, Brazil, 14 March – Brazilian aircraft manufacturer Embraer – Empresa Brasileira de Aeronáutica posted a net profit of 656.9 million reais in 2007, a year on year rise of 5.7 percent, the company said in a statement published Thursday on its website.
In the fourth quarter of 2007, the company posted net profit of 212.7 million reais, which was a year on year fall of 1.4 percent.
In the statement, Embraer said that the fall in interest rates and exchange rate variations were the reason for this as the growth in profit was not in line with the increase in revenues.
Embraer’s portfolio of firm orders at the end of 2007 totaled a record US$18.8 billion, particularly for the Executive Aviation market and the good sales performance of the EMB 170/190 models, which totaled 764 firm orders and 786 options to buy.
Embraer was founded in 1969 and manufactures commercial jets with up to 120 seats and is one of Brazil’s biggest exporters.
Based in Sao Jose dos Campos, in the state of Sao Paulo, the company has offices, industrial units and servicing workshops in Brazil, the United States, France, Portugal, China and Singapore. (macauhub)