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Boeing raises profit forecast

Boeing has raised its profit forecast for this year and says it has a record backlog of orders.

The US aircraft manufacturer expects to make between $8.10 and $8.30 per share, up from its previous guidance of between $7.90 and $8.10 per share.

Boeing valued its order backlog at a record $490 billion at the end of the third quarter, up from $440 billion at the start of the period.

The company made $1.36 billion in the third quarter of the year, up 17.6% on the same time in 2013. This came as revenue rose 7% to $23.78 billion.

Commercial aircraft deliveries rose 95 to 186, but the operating margin in the division narrowed to 11.2% from 11.6%, reflecting the effect of deliveries of lower-margin 787 and 747 aircraft in the quarter.

Its full-year forecast for commercial aircraft deliveries and sales are expected at between 715 to 725, and revenue of $57.5 billion to $59.5 billion.

Chief executive Jim McNerney said: “With three solid quarters behind us and confidence in our ongoing performance, we are increasing our earnings per share outlook for 2014.”

Boeing gained 501 orders in the three months, including 100 from Ryanair for fuel-efficient 737 MAX 200 aircraft.

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