EADS profits fall, sending shares lower

<p>Shares in EADS are down after the company announced disappointing Q3 profits.</p>

EADS shares have fallen on the Paris Stock Exchange this morning (November 8th) as the pan-European company announced its net profits for the third quarter were lower year-on-year.

The Airbus owner announced that it made a net profit of €309 million (£247 million), for the three months to the end of September, which is one per cent down from the €312 million made a year earlier.

EADS has lost €76 million after US jet firm Hawker – which carries out maintenance work for the company – went into bankruptcy protection.

Hawker is still seeking a new owner after recent talks with a potential buyer in China collapsed.

Last month, a merger between EADS and UK defence giant BAE also fell through, as the companies' government ties kept both sides from reaching a fair agreement.

At 10:35 GMT today (November 8th), shares in EADS in Paris retreated by 1.3 per cent to €26.86.

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