Rolls-Royce maintains full-year guidance
Power systems group Rolls-Royce didn't give much away in its first-quarter interim management statement on Friday but reassured that trading since the start of the year has been consistent with previous guidance.
Power systems group Rolls-Royce didn't give much away in its first-quarter interim management statement on Friday but reassured that trading since the start of the year has been consistent with previous guidance.
For the year ending December 31st 2012, the group continues to expect "good growth" in underlying revenue and profit with cash flow around break-even as it invests in future growth.
This growth is expected even when excluding the impact of last year's €3.4bn acquisition of German industrial group Tognum, jointly owned with Daimler, and the Rolls-Royce's proposed sale of its 32.5% shareholding in International Aero Engines.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Rolls-Royce continues to invest across the Group in technology, capability and facilities to deliver on our current commitments, to improve productivity and to create opportunities for future growth," the statement said.
The group said that it has achieved some "important milestones" since it announced its 2011 results in February, including the first flight of the Trent XWB engine on board an Airbus A380 flying test bed, and the opening of a new manufacturing and training facility in Singapore.
BC
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Zoopla: 21 tenants competing for each rental – is buy-to-let worth it for landlords?
News Research by Zoopla shows rental growth has halved but some parts of the UK are still providing double-digit gains for landlords
By Marc Shoffman Published
-
Major lenders reduce time window to lock in new mortgage deal - are you affected?
Mortgage customers now have less time to select a new mortgage rate when their current deal expires. We have all the details
By Ruth Emery Published