Fourth quarter sales and profit growth in both the commercial aircraft and business jet sectors eased off for aircraft cabin interiors products maker B/E Aerospace, but full-year 2012 results remained robust, with revenue up 23% to $3.09 billion and operating profits gaining 26% to $540 million.
Commercial aircraft sector results lagged group growth rates - sales were up 19% at $1.5 billion and segment earnings gained nearly 26% to $271 million - but the smaller business jets division surged, with revenue up 43% to $363 million and profit up 80% to $52 million for the full year.
The company is also a significant supplier of fasteners and other consumables; this segment was up 24% for the year to $1.17 billion, with earnings gaining 18% to $216.7 million.
In 2012, about 61% of revenue came from demand for new-build aircraft, though aftermarket demand was weaker than the previous year. Chief executive Armin Khoury expects 2013 earnings to rise by 22% "based primarily on our high quality backlog, the expectation of strong widebody deliveries, a modest recovery in the aftermarket and significant continuing margin expansion".