Rolls-Royce rolls out big results
Global - Rolls-Royce has seen progress in the first half of 2010 despite the economic uncertainty and is expecting the full-year's underlying profit to exceed 2009 results.
The group's order book at £58.4 billion (US$91.6 million), underlying revenue and underlying profit all increased, maintaining its strong financial position with average net cash balances improving by £155 million compared to the first six months of 2009.
Sir John Rose, chief executive of Rolls-Royce group says, "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."
He reveals the company is also increasing the first half payments to shareholders by 6.7%.
In the short term, Rolls-Royce expects the global economic environment to remain uncertain. It expects underlying revenues to grow by approaching 10% in 2010.
For the full-year, underlying profits will benefit from strong trading performance in the marine segment and improving cost control.
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