Business
2019 Half Year Results
2019 Half Year Results.
About this update from Rolls-royce Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 9831H Rolls-Royce Holdings plc 06 August 2019 \n\n \n 6 August 2019\nROLLS-ROYCE HOLDINGS PLC - 2019 Half Year Results \n \n\nFull year guidance maintained\n\n \nWarren East, Chief Executive commented: \"We delivered further progress across the group in the first half in line with our full year expectations. We expect a significant improvement in cash in the second half as we unwind inventory built up to support customer deliveries and benefit from improved trading in both Power Systems and Civil Aerospace. In Civil Aerospace we delivered on key drivers of future cash flow with further improvement in average OE unit losses and continued aftermarket growth. Defence grew both revenue and profit and enjoyed substantial order intake. In Power Systems we also saw good revenue growth and order intake and entered the second half underpinned by a healthy backlog. \n \nWe have made good progress on resolving the Trent 1000 compressor issue, though regretfully, customer disruption remains. Progress on our restructuring programme is in line with the plan we outlined a year ago. We took significant strides in accelerating our electrification ambitions through the announced acquisition of Siemens' eAircraft business in our drive to create cleaner, more sustainable and scalable power for the future.\" \n \n· Good revenue progress; underlying Core and Group +7%; Group reported revenue +5% \n· &nb...