Honeywell International, a maker of aircraft cockpit parts and other electronic equipment, reported a better-than-expected third-quarter profit, helped partly by higher margins in its aerospace business.

Margins in its aerospace business, its largest, rose to 20.3 per cent in the third quarter ended September 30 from 18.8pc a year earlier.

In July, the company merged its transportation division with its aerospace business to take advantage of the similarities in the units.

'Looking ahead to 2015, we're once again planning for a slow growth macro environment, but expect to continue delivering strong earnings growth,' chief executive Dave Cote said.

Total revenue increased 4.8 per cent to $10.11 billion. Net income rose to $1.17 billion, or $1.47 per share, from $990 million, or $1.24 per share, a year earlier.-Reuters