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Rolls-Royce Group reports 2010 half-yearly results
Rolls Royce Group has announced their 2010 Half-Yearly Results.
Group Highlights
- Order book remains strong at £58.4bn (2009 year-end £58.3bn).
- Group revenues increased to £5,421m (2009 first-half £5,142m). Revenues on an underlying basis increased by seven per cent to £5,259m. Services revenues increased by eight per cent to £2,615m on an underlying basis.
- Profit before financing was £594m (2009 first-half £593m).
- Underlying profit before taxation* increased by four per cent to £465m (2009 first-half £445m).
- Strong financial position
o Average net cash for the period improved by £155m to £915m (2009 first-half £760m).
o Robust balance sheet with net cash of £1,388m at the period-end (2009 year-end £1,275m) after a cash inflow in the period of £113m.
- Interim payment to shareholders increased 6.7 per cent to 6.40 pence per share.
Sir John Rose, Chief Executive, said:
“Rolls-Royce delivered a robust performance despite the continuing uncertainty in the global economy.
“We continue to make progress with our development programmes and new facility construction; these investments are designed to underpin the growth embedded in our order book and achieve productivity improvements.
“We now expect underlying profit for the full-year to be modestly higher than 2009, mainly due to good cost control and a strong trading performance from our Marine business. We expect a modest cash inflow for the year and average net cash balances to remain at a similar level to the first-half.
“We are increasing the first-half payment to shareholders by 6.7 per cent”.
Courtesy: The Rolls Royce Group
Group Highlights
- Order book remains strong at £58.4bn (2009 year-end £58.3bn).
- Group revenues increased to £5,421m (2009 first-half £5,142m). Revenues on an underlying basis increased by seven per cent to £5,259m. Services revenues increased by eight per cent to £2,615m on an underlying basis.
- Profit before financing was £594m (2009 first-half £593m).
- Underlying profit before taxation* increased by four per cent to £465m (2009 first-half £445m).
- Strong financial position
o Average net cash for the period improved by £155m to £915m (2009 first-half £760m).
o Robust balance sheet with net cash of £1,388m at the period-end (2009 year-end £1,275m) after a cash inflow in the period of £113m.
- Interim payment to shareholders increased 6.7 per cent to 6.40 pence per share.
Sir John Rose, Chief Executive, said:
“Rolls-Royce delivered a robust performance despite the continuing uncertainty in the global economy.
“We continue to make progress with our development programmes and new facility construction; these investments are designed to underpin the growth embedded in our order book and achieve productivity improvements.
“We now expect underlying profit for the full-year to be modestly higher than 2009, mainly due to good cost control and a strong trading performance from our Marine business. We expect a modest cash inflow for the year and average net cash balances to remain at a similar level to the first-half.
“We are increasing the first-half payment to shareholders by 6.7 per cent”.
Courtesy: The Rolls Royce Group
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