Rolls-Royce's Earlier Financial Trading Guidance Verified
Rolls-Royce state that trading is consistent with the guidance for the Group provided at its half-year results in July 2012.
For the full year, the Group continues to expect good growth in underlying revenue and underlying profit, with cash flow around breakeven as we continue to invest in future growth.
Guidance for the business segments remains unchanged except for Marine where, due to the phasing of deliveries, underlying revenue is now expected to be broadly flat.
Guidance excludes the impact of the Tognum acquisition and the sale of the Group’s shareholding in International Aero Engines (IAE).
Since the half-year results in July, Rolls-Royce has achieved some important milestones. They signed a US$2.6 billion dollar contract, at list prices, with Singapore Airlines to power 20 Airbus A350s and 5 Airbus A380s. They agreed an order for the US Navy to power its future fleet of Ship to Shore Connector hovercraft in a programme of up to 73 craft. They opened their first US Defence Operations Centre in Indianapolis, and in Singapore the first Trent engine to be assembled and tested at their new Seletar facility was unveiled by the Duke and Duchess of Cambridge.
The Group’s balance sheet remains strong with good liquidity through cash and debt maturities that are well spread through 2019 and it will report its preliminary results for the financial year ending 31 December 2012 on 14 February 2013.