Zodiac Aerospace core profit down 45% on aircraft seat delays

Zodiac Aerospace posted a 44.6% drop in core annual earnings on November 24th, in the wake of production delays at its troubled aircraft seats division. Hit by a series of recent profit warnings, Zodiac Aerospace said its 2014/15 ordinary profit fell to €314m (US$333.66m) as its core profit margin more than halved to 6.4%, while already-reported revenue rose 18%. For the current September-August financial year, the French company predicted slight growth in revenue thanks partly to a stronger dollar and an operating margin of around 10%.