04 May 2012, 20:14

Rolls-Royce repeats forecast for strong profit growth

LONDON. May 4. KAZINFORM Rolls-Royce is on course to deliver strong profit growth this year as it benefits from demand for fuel-efficient plane engines in Asia, South America and the Middle East.

While European carriers, aside from easyJet and Ryanair, continue to struggle for profits, the likes of Emirates, Cathay Pacific and Brazil's TAM are expanding rapidly, generating orders for Rolls-Royce's Trent engines. In an interim management statement published on Friday ahead of the company's annual general meeting, the Derby-based firm said it continued to expect "good growth in underlying revenue and underlying profit", the Guardian reports.

Rolls-Royce specialises in engines for twin-aisle, long-distance aircraft such as the Airbus A330 and A380. Its Trent XWB engine, for the yet-to-be-launched Airbus A350 aircraft, recently underwent its first test flight, attached to the wing of an A380. Civil aerospace accounts for around half of Rolls-Royce's revenues, generating sales of £5.6bn last year with an order book worth £51.9bn.

Fuel efficiency is a key issue for airlines grappling with volatile energy bills that account for around a third of the industry's costs. According to the International Air Transport Association, the industry's fuel bill will be $198bn (£122bn) this year, up from $178bn in 2011 and more than four times the total in 2003. That has spurred demand for technology such as the new A320neo short haul jet and the Trent XWB engine, which is 15% more fuel efficient than its predecessors and is Rolls-Royce's fastest-selling engine.

Last year Rolls-Royce reported a 4% rise in underlying revenues to £11.2bn. Pre-tax profits rose by 21% to £1.1bn.

Read more http://www.guardian.co.uk/

 Tags: Economy
Did you find a mistake? Highlight it and click CTRL+ENTER

Read also

KASE day session: USDKZT_TOD = 353.11

ALMATY. KAZINFORM - The day foreign currencies trading session ended on Kazakhstan Stock Exchange (KASE).

User name:
Enter code:*


Chinese woman aims to pilot plane around the world
4.7m earthquake struck in 640 km from Almaty
Video in support of Kazakh boxers at 2016 Rio Olympics released
Kazakhstan wins at 1st stage of International Army Games 2016
Blast rocks apartment in Malmo, Sweden - police
Manchester United expect to seal £100m Paul Pogba deal within 48 hours
Education Ministry comments on prosecutors’ suggestion to prohibit smartphones at schools
Police release new details on how Safar Shakeyev's body was found

ALMATY. KAZINFORM - The body of the missing Safar Shakeyev has been found in Yessentai River in Almaty city today.

Commented articles