CONTENT PREVIEW
To read the full article,
Client Login
Industry
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.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options atihsmarkit.com/janes
Faced with ageing submarine fleets - many fast approaching the end of their service lives - a number of South American navies have launched programmes to upgrade or replace them. Tim Fish reports
