Revenues and profits down for CAE

Revenus et profits en baisse pour CAE

MONTREAL | Disturbed as others by the pandemic COVID-19, the company’s montreal-based CAE said Friday a profit down to its fourth quarter.

Compared to the same period last year, the profits of CAE have fallen from $ 125.4 million to $ 81.1 M$.

Revenues have also declined, reaching 977,3 M$ at the end of the month of march, compared to 1 billion dollars last year.

The company explained that the air transport and passenger transport have been particularly affected by the health crisis, and that its activities have therefore been heavily disturbed. As the fourth quarter is usually the best quarter of the year, has been provided.

On the year, the profits have declined, from$ 340 Million to$ 318.9 Million. On the other hand, the revenues amounted to$ 3.6 billion, up 10% compared to the previous year.

“As we progress towards what would have been another record-breaking year for CAE, the pandemic COVID-19 will hit us in the fourth quarter,” said Marc Parent, president and chief executive officer of CAE.

“Despite the impact of the COVID-19 on what is usually our best quarter of the year, we delivered a solid overall performance for the year 2020, with double-digit growth in revenue, a 21% increase in operating income and a 7% increase in earnings per share”, he added.

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