Rolls-Royce 1st Half Pretax Loss Narrowed; Backs Outlook
06 August 2019 - 4:52PM
Dow Jones News
By Carlo Martuscelli
Rolls-Royce Holdings PLC (RR.LN) backed its full-year outlook on
Tuesday as it reported a narrowed pretax loss for the first half of
2019.
The company reiterated its underlying operating profit and free
cash flow guidance of 700 million pounds ($850.3 million) plus or
minus GBP100 million in 2019. It forecast a minimum of GBP1 billion
in free cash flow in 2020.
The company posted a loss before tax of GBP791 million, compared
with a loss of GBP1.23 billion in the year-before period, on
revenue that rose 5.3% to GBP7.88 billion.
Operating profit on an underlying basis for the period increased
by GBP48 million to GBP203 million, the FTSE 100-listed company
said. It benefited from a narrowed loss in the civil aerospace
unit, as well as growth in its power systems and defense
businesses.
Rolls-Royce said that it was making good progress on its
troubled Trent 1000 engine, although some customer disruption
remained.
Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com
(END) Dow Jones Newswires
August 06, 2019 02:37 ET (06:37 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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