GE Transportation announces 45% revenue growth
GE TRANSPORTATION: Full-year revenue of $4·9bn has been announced by GE Transportation for 2011, up 45% on the previous year. Profit of $757m was up from $315m in 2010, although orders were 7% down at $4·6bn. At the end of the year GE Transportation's order backlog was worth $3·3bn.
'In 2011 we invested heavily in leading transportation products that drive sustainable infrastructure development in the rail, mining and other industries around the globe,' said GE Transportation President & CEO Lorenzo Simonelli.
'We staffed for growth and expanded our manufacturing capabilities worldwide. We are well-positioned to help our customers succeed and to capitalise on growth opportunities in 2012.'
The results released on January 20 show that GE as a whole recorded revenue of $147·3bn for 2011. Record infrastructure orders of $26·6bn in the fourth quarter meant the company ended the year with an order backlog of $200bn, the largest in its history.