August 1, 2008 / 12:27 AM / 10 years ago

UPDATE 1-Brazil's Embraer Q2 net profit more than doubles

(Recasts, adds firm orders)

BRASILIA, July 31 (Reuters) - Brazilian aircraft manufacturer Embraer (EMBR3.SA) said on Thursday its second-quarter net profit more than doubled to 176.3 million reais ($112.8 million), helped by a rise in sales.

The second-quarter result was above the 79.7 million reais net profit posted in the year-earlier period.

Embraer said the acquisition of new clients such as ETA Star group of Dubai and Brazil’s TRIP Linhas Aereas had led to an increase in firm orders.

Earnings before interest, taxes, depreciation and amortization, a measure of cash flow known as EBITDA, climbed to 199.1 million reais from 78.7 million reais in the second quarter of 2007.

Embraer, short for Empresa Brasileira de Aeronautica, is the world’s leading producer of regional jets. It also makes business jets and military aircraft.

Its main rival in the regional jet market is Canada’s Bombardier Inc (BBDb.TO).

$1=1.563 reais Reporting by Ana Nicolaci da Costa; Editing by Gary Hill

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