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Company News

CAE profit falls 11% on higher expenses

Aug 14 (Reuters) - Canada’s CAE Inc reported a 11.4% fall in quarterly profit on Wednesday, as the world’s largest civil aviation training company was hit by higher expenses.

The company said net income attributable to shareholders fell to C$61.5 million ($46.26 million), or 23 Canadian cents per share, in the first quarter of fiscal year 2020 ended June 30, 2019, from C$69.4 million, or 26 Canadian cents per share, a year earlier.

Revenue rose to C$825.6 million from C$722 million.

$1 = 1.3295 Canadian dollars Reporting by Shanti S Nair in Bengaluru and Allison Lampert in Montreal; Editing by Shailesh Kuber

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