Third-quarter pre-tax profit at Bombardier fell as its aerospace division suffered from weakness in the business jet market, the Canadian transport giant said yesterday.

Bombardier, the world's third-biggest civil aircraft maker and largest train manufacturer, said earnings before taxes, which include unusual items, fell to 313.4 million Canadian dollars (€198.4 million) from C$362.9 million.

The company employs 6,600 in five manufacturing plants in Northern Ireland, which it acquired in a 1989 takeover of aerospace company Shorts, and a further 300 at Belfast City Airport, which it is trying to sell. The five plants are located in greater Belfast and in Newtownards, Co Down.

Bombardier said its net earnings were C$209.4 million, or 15 Canadian cents a share, in the quarter ended October 31, compared with a net loss of C$367.6 million, or 27 Canadian cents a share, in the year-earlier period. Revenues improved to C$5.6 billion from C$5 billion.

The order backlog fell to C$44.9 billion from C$45.9 billion in the year-ago period.

Bombardier reiterated its financial guidance for the fiscal year ending in January: the company still expects a profit of 70 Canadian cents a share and free cash flow of C$1.3 billion.

"It must be emphasised, however, that the business aircraft market remains difficult and that major US airlines are still facing uncertainty," the company said in a statement.

Bombardier's aerospace division - which includes the Irish operation - saw revenues slip to C$2.4 billion from C$2.6 billion, while earnings before taxes were sliced to C$111.2 million from C$239.8 million.

Bombardier stock was down 35 cents at C$5.60 at midday yesterday in Toronto.

- ( Reuters)