EADS reveals rise in profits

<p>Profits are up at EADS.</p>

EADS has revealed a big rise in profits for the first three months of the year.

It was announced by the Airbus parent company that it made 741 million euros (£629 million) between January and March, which is a rise of 56 per cent on the previous quarter.

Much of the rise was noted by the firm to be down to higher production at its Airbus subsidiary, where it has seen revenue climb by 16 per cent.

Chief executive Tom Enders said the company "had a rather good start into 2013" and is remaining focused on its goal of improving profitability "in 2013 and beyond".

Airbus announced that it delivered 144 aircraft between January and March, which is a jump from 131 in the same three months last year.

The share price of EADS is up on the back of the news and at 08:30 BST this morning (May 14th) shares were selling for 41.76, up 1.29 per cent for the day so far.

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