Civil Aero-Engine Sales Propel Rolls-Royce in H1

Demand for civil aerospace engines, maritime propulsion systems and engine components underpinned a 7% year-on-year organic sales increase for Rolls-Royce in the first half (H1) of 2019.<br />Overall reported revenues for the UK-headquartered group increased by 5% to GBP7.88 billion (USD9.60 billion), and a net loss of GBP747 million in H1 2018 was...

Demand for civil aerospace engines, maritime propulsion systems and engine components underpinned a 7% year-on-year organic sales increase for Rolls-Royce in the first half (H1) of 2019.

Overall reported revenues for the UK-headquartered group increased by 5% to GBP7.88 billion (USD9.60 billion), and a net loss of GBP747 million in H1 2018 was transformed into operating profits of GBP83 million the following year, due mainly to a reduction in exceptional charges.

"Defence grew both revenue and profit and enjoyed substantial order intake," said Rolls-Royce Chief Executive Warren East. Sales and underlying operating profits in Defence each grew by 2% compared with H1 2018, amid higher demand for the LiftSystem propulsion system (used with the Pratt & Whitney F135 on the Lockheed Martin F-35B Lightning II) in the first six months of 2019.

Source: www.janes.com