Strong profit at General Electric

General Electric has seen strong demand for its heavy manufacturing

US industrial giant General Electric says profits rose 13.8% in the third quarter of the year.

Boosted by demand for heavy equipment like gas turbines and jet engines, earnings increased to $5.54bn from $4.87bn a year before.

GE, the second-largest US firm by market capitalisation behind Exxon Mobil, has seen strong demand for its heavy products in the US and overseas.

Revenue rose 12.3% to $42.53bn from $37.84bn a year ago.

Positive outlook

GE has a large and diversified operation, covering everything from manufacturing railroad locomotives to consumer lending.

It also owns an entertainment and media arm, NBC.

Its infrastructure unit recorded 12% profit growth, while the commercial finance side saw a profit gain of 12% and profit at GE Money consumer finance moved up 13%.

"Our outlook for the remainder of the year is strong," said Jeff Immelt, GE's chairman and chief executive, in a statement.

"We have a better set of financial services businesses and a successful turnaround at NBC Universal, and we will have earnings acceleration in infrastructure."