Honeywell, a large US industrial group, issued a report on the 18th, saying that as the growth of international business offset the negative impact of the weak US economy, its profit in the second quarter of this fiscal year increased by 18% compared with the same period of last year. The company also increased its 2008 full-year profit forecast.
In the quarter ended June 30, Honeywell made a profit of 723 million U.S. dollars, equivalent to 96 cents per share; the profit for the same period last year was 611 million U.S. dollars, equivalent to 78 cents per share. Quarterly sales increased by 13% from $8.54 billion in the same period last year to $9.77 billion.
Analysts had expected that Honeywell will earn 94 cents a share on a quarterly basis and have a turnover of $9 billion. Among them, sales in the aviation sector increased by 8%, and sales of automation and control systems increased by 19%.
Honeywell said that the prosperity of overseas markets, including Asia, benefited the company and boosted the profitability of the aviation and building control systems sector. In the quarter, 70% of its turnover came from markets outside the United States, and the weaker US dollar has led to an expanding trend in overseas sales. In addition, soaring energy prices have prompted customers to actively seek energy-saving measures and boost sales of their building temperature control systems.
The company increased its 2008 earnings per share forecast by 5 cents to $3.75 to $3.85 per share.
In the quarter ended June 30, Honeywell made a profit of 723 million U.S. dollars, equivalent to 96 cents per share; the profit for the same period last year was 611 million U.S. dollars, equivalent to 78 cents per share. Quarterly sales increased by 13% from $8.54 billion in the same period last year to $9.77 billion.
Analysts had expected that Honeywell will earn 94 cents a share on a quarterly basis and have a turnover of $9 billion. Among them, sales in the aviation sector increased by 8%, and sales of automation and control systems increased by 19%.
Honeywell said that the prosperity of overseas markets, including Asia, benefited the company and boosted the profitability of the aviation and building control systems sector. In the quarter, 70% of its turnover came from markets outside the United States, and the weaker US dollar has led to an expanding trend in overseas sales. In addition, soaring energy prices have prompted customers to actively seek energy-saving measures and boost sales of their building temperature control systems.
The company increased its 2008 earnings per share forecast by 5 cents to $3.75 to $3.85 per share.
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