CAE sales up, profit down for year ending March 2011

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For Canadian training services provider CAE, civil market revenue for the year to 31 March rose 6% to C$763.9 million ($787 million), though segment operating profit fell 11% to C$110.7 million.

For the full year, orders totalled C$915.7 million.

Chief executive Marc Parent said the civil business "benefited from increased market recovery and strong demand in the emerging markets where we maintained our leading position".

During the year, CAE won contracts to provide training for new aircraft programmes including the Airbus A350, Bombardier CSeries and Learjet 85, ATR -600 series and Mitsubishi MRJ.

The Montreal-headquartered firm also signed new long-term training agreements with TAM and LAN Airlines, and bought an equity interest in China Southern Airlines' ab initio pilot training school in Perth, Australia, which CAE now manages as part of the CAE Global Academy.

Overall, including its military and non-aviation businesses, CAE raised pre-tax profit 12% to C$228.6 million on revenue up 7% to C$1.63 billion.