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Last Updated: Wednesday, 8 March 2006, 11:38 GMT
EADS beats 2005 profit forecasts
EADS has seen Airbus orders boost its profits
European aerospace group EADS, majority owner of Airbus, has reported higher than expected net 2005 profits of 1.68bn euros (1.15bn), up 39% on 2004.

The rise stemmed from higher sales of Airbus, which is 80% owned by EADS and 20% owned by BAE Systems, as well as a different accounting method.

This change in accounting added 289m euros to EADS's bottom line.

The company said it expected revenues of more than 37bn euros for 2006, with Airbus deliveries up by at least 10%.

"We believe the record order book and vibrant customer demand point to sustained high deliveries in Airbus," the company's chief executives, Thomas Enders and Noel Forgeard said in a statement.

The company maintains its top position in the aerospace industry but is being followed closely by US rival Boeing, as the company's new fuel-efficient Dreamliner plane is proving increasingly popular.

The value of EADS's total orders stood at 253.2bn euros, of which about a fifth, or 52.4bn, is in defence.

The news sent EADS shares up 1.7% to 32.26 euros.

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