Boeing profits up sharply

Boeing's fourth-quarter profits rose 26 per cent to $1.23 billion (£742 million) as it delivered more commercial aircraft. But shares in the US aerospace giant fell in early trading after it said that future revenues and profits would be lower than analysts had forecast. Boeing's revenue for the three months rose 7 per cent to $23.79 billion, the company said. The company said that it expected to deliver 715 to 725 aircraft this year, which would be an increase of at least 10 per cent from last year. "Strong fourth-quarter results underscored an outstanding full year of core operating performance that drove record revenue and earnings and increased returns to shareholders," said Boeing's chairman and chief executive Jim McNerney, according to a news agency.