Commercial aircraft boost Boeing

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Boeing has reported rising profit for 2007 after higher commercial aircraft sales made up for falling business at its military divisions.

Net income for the last three months of the year rose 4% to $1.03bn (£518m) while the figure for the full year was up 84% at $4.07bn.

Boeing raised its 2008 profit forecast, despite delays to its 787 Dreamliner which had been due to launch in May.

The first deliveries are now not scheduled until the start of 2009.

Boeing blamed the delays on supply chain problems and slow progress on the assembly line.

"Despite some development programme challenges, we are a strong company growing stronger and we expect continued improvement in our financial results in 2008 and beyond," said Boeing chief executive Jim McNerney.