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Cubic reports weaker performance in defence business
Andrew MacDonald, London - Jane's Defence Weekly
16 November 2018
US defence and transportation provider Cubic Corporation published its 2018 financial results on 15 November, which despite showing strong growth in sales and profit overall, highlighted a decline in the performance of its Global Defense business.
The company’s total sales were USD1.20 billion in the 12 months to 30 September, an 8.6% rise year-on-year, while operating income grew dramatically from USD2.6 million in 2017 to USD24.4 million, largely due to improved results in Cubic’s Transportation Systems business.
However, 2018 sales in the company’s military training division, Cubic Global Defense, were down by 9.7%, at USD325.2 million, while the segment’s operating income fell by 40.9% to USD16.6 million.
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