Rolls-Royce's share price slipped 4.0% to GBP315.75 yesterday, after the engine and aerospace manufacturer completed the sale of GBP500 million of bonds, the first issue in pounds since 2000. The company expects to match last-year’s profit of GBP668 million this year. After dropping to GBP260 per share in early Mar-2009, Rolls-Royce's share price has climbed for most of the past two months.
In contrast to Rolls Royce, MTU Aero Engines, the Munich-based aero-engine company, rose 4.4%, after a stronger than expected performance in 1Q09. Revenue rose 10% year-on-year to EUR693.1 million, with operating profit up 7.8% to EUR118.8 million. Net profit fell from EUR44.2 million to EUR31.0 million, mostly associated with a EUR15.5 million negative impact (after taxes) of the fair value measurement of financial instruments.
EADS’ share price continues to rise, despite the “challenging” outlook forecast by competitor Boeing. EADS shares rose 5.8% yesterday. The manufacturer’s shares have climbed from a five-year low of EUR8.47 to EUR9.90 over the past month. Boeing shares also rose, up 1.7%, as the market reacts to the manufacturer’s moves to cut production rates of some key models such as the B777.
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Selected aviation suppliers’ daily share price movements (% change): 23-Apr-09
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