Rolls-Royce Holdings Confirms Full-Year Outlook, Reports Weak Demand in Marine Business
09 November 2017 - 7:12PM
Dow Jones News
By Carlo Martuscelli
Rolls-Royce Holdings PLC (RR.LN) said on Thursday that it was
reconfirming its full-year outlook, and that its marine division
had been impacted by weak demand.
The engineering company reported that it is making steady
progress in the second half and that it continues to achieve its
key targets.
Chief Executive Warren East said that the company's performance
for revenue, profit and free cash remains on track. However, Mr.
East cautioned that the marine business continues to be impacted
weak demand for products and services for the offshore oil and gas
market. There had also been changes to timings for new export
orders for the defense aerospace division, he added.
Rolls-Royce said that its transformation program is proceeding
well and providing cost savings.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
November 09, 2017 02:57 ET (07:57 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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