Rolls-Royce Order Book Logs in at $21.3 Billion

Thursday, May 31, 2001
British aircraft engine maker Rolls-Royce Plc said on Thursday its order book had risen to a record 15 billion pounds ($21.3 billion) as the group added to its share of the civil aviation and marine markets.

There was no change to the short-term outlook for the group, however, with sale delays and restructuring charges expected to hold back earnings growth this year.

"I am pleased to say that the order book has continued to grow since the year-end and today stands at a record $21.3 billion, reflecting significant growth in the civil aerospace and marine market shares," a top level Rolls Royce official said.

At the end of last year Rolls Royce's order book was at $18.5 billion, excluding $1.9 billion in orders that had been announced but not booked. Rolls-Royce had an underlying pre-tax profit of $617.8 million in 2000, up 18 percent on the previous year, but reiterated at the time of its results in March that it expected flat earnings for 2001 and earnings growth to resume in 2002.

Weighing on earnings this year are sales delays of an engine for ground-based power generation and restructuring charges. It plans to cut some 6,000 jobs over the next three years.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

‘Blue Queen’ on First Mission

The platform supply vessel 'Blue Queen', an ULSTEIN PX121 design, was named at Ulstein Verft on Friday 27 February. The ship will be working in the spot market.

Fiji Maritime Academy Bullish on Prospects

The Fiji Maritime Academy (FMA) is on the right track to become one of the finest maritime training institutions in the region. It has also achieved an important

 
 
Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1151 sec (9 req/sec)