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General Dynamics profit rises on marine, aero sales boost -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The General Dynamics sign at the International Association of Chiefs of Police conference, San Diego, California on October 17, 2016, is displayed. REUTERS/Mike Blake/File photo

(Reuters] -General Dynamics Corp (NYSE:), a defense contractor, reported a 3% increase on Wednesday in third quarter profit. The gain was attributed to increased sales of marine systems and aircraft units.

As a result of easing travel restrictions and the attraction of private flight, business aviation is thriving. This has led to increased orders for corporate aircraft.

This comes just a few days after Raytheon Technologies (NYSE 🙂 increased its projection for full year adjusted profit on promising signs in the space of commercial air travel.

The U.S. Navy’s marine-powered submarines and submarines are sold at 9.6%, up from 2.64 billion in 2012. Aerospace sales rose to $2.07 Billion, or 4.6%.

Although the company shipped 31 Gulfstream jets, compared to 32 last year, it signaled strong orders for business jets.

General Dynamics has announced two new jets earlier this month. Its larger Gulfstream G800 is set to compete with Bombardier (OTC) Inc’s Global7500 and Dassault Aviation SA SA’s 10X.

From $834million, which was $2.90 per shares a year ago, net earnings increased to $860million, or $3.07, for the quarter that ended Oct. 3.

The revenue rose by 1.5% to $9.57 Billion

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