Source AP ©

Rolls-Royce Group's profit halves

Rolls-Royce Group PLC, the world's second largest maker of aircraft engines, reported Thursday that net profit fell by more than half in the six months ending June 30.

The company reported net profit of 306 million pounds (EUR 457 million; US$629 million), down 50.6 percent from 619 million pounds in the same period last year.

Rolls-Royce said its order book grew by 9 billion pounds (EUR 13.4 billion; US$18.5 billion) in the first half to 35.1 billion pounds (EUR 52.4 billion US$72.2 billion).

Revenue was up 6 percent to 3.6 billion pounds (EUR 5.4 billion; US$7.4 billion).

Underlying pretax profit, a measure which excludes certain financial items and is closely watched by analysts, rose 17 percent to 380 million pounds (EUR 567 million US$781 million), above the market consensus of 14 percent.

Rolls-Royce shares were up 0.85 percent to 535 pence (EUR 7.99 US$11.00) on the London Stock Exchange.

Comments
Ukraine dreams of what it can do to Crimea after winning war with Russia
Who loses and wins most from Caspian Sea division
Who loses and wins most from Caspian Sea division
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
Who loses and wins most from Caspian Sea division
Pilot shares his impressions after flying Su-57 fifth-generation fighter
Trump's solar wall and barefaced lies
US-Russian confrontation: War is peace, freedom is slavery
Why Russia continues investing in US public debt
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine and PMC Blackwater to poison Donbass with radioactive waste
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Who loses and wins most from Caspian Sea division
Ukraine dreams of what it can do to Crimea after winning war with Russia
Ukraine dreams of what it can do to Crimea after winning war with Russia
Turkey desperately tries to rescue its national currency as it falls to all-time lows
Russians tired of Putin's foreign policy
Ukraine dreams of what it can do to Crimea after winning war with Russia