Lower Defence and Space sales for Honeywell
Honeywell has announced lower than expected Defence and Space (D&S) sales for the third quarter of 2013 despite managing to record overall growth in its diversified portfolio.
Sales in Honeywell’s Aerospace sector were down 2% compared with the same period last year. This decline was mainly caused by an 11% decrease in D & S sales, almost double the anticipated 6% in Honeywell’s original guidance.
‘The expected decline is driven by aftermarket demand deferral as well as programme completion and programme wind downs,’ David Anderson, SVP and CFO of Honeywell said on 18 October.
However, the additional unexpected decline in
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