EADS reports profit in 2010 turnaround

MUNICH: Europe's biggest aerospace firm EADS on Wednesday reported a net profit of 553 million euros (740 million dollars) in 2010, against a loss of 763 million in 2009.

The company was cautious in predicting a stable result for the current year, saying it expected further improvement in 2012.

European aircraft manufacturer Airbus is EADS's principal unit, alongside helicopter manufacturer Eurocopter and defence and security systems builder Cassidian.

The group said in a statement it expected a "clear improvement" in 2012, with bigger sales volumes, higher prices and a boost to the Airbus A380 programme.