Home Business NewsBusiness Rolls-Royce assures over profits amid engine woes

Rolls-Royce assures over profits amid engine woes

3rd May 18 9:25 am

Find out what it said ahead of annual general meeting in Derby

Britain’s Rolls-Royce stuck to its profit and cash flow guidance for 2018 and said it was making progress with a plan to repair some problematic Trent 1000 engines more quickly.

In an update ahead of its annual general meeting in Derby where it is likely to face questions over engine durability issues, the group assured it remained on track for full-year profit.

Turbine blades on some Trent 1000 engines have worn out sooner than expected, forcing airlines to disrupt their schedules to allow for the engines to be inspected more regularly. Rolls said it has completed around two-thirds of the initial inspections, with the rest to take place in the next six weeks.

For 2018, Rolls has forecast group underlying operating profit of about 400 million pounds, give or take 100 million pounds. At the lower end of expectations that would represent a decline from its 2017 level of 321 million pounds.

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