Rolls-Royce Holdings profit declines but maintains guidance

Rolls-Royce Holdings revenue down 1% - underlying financial highlights for 12 months ended 31-Dec-2015:

• Revenue: GBP13,354 million, -1% year-on-year;
• • Civil aerospace: GBP6933 million, +3%;
• Profit before financing: GBP1492 million, -11%;
• • Civil aerospace: GBP812 million, -14%;
• Total assets: GBP22,324 million;
• Cash and cash equivalents: GBP3176 million;
• Total liabilities: GBP17,308 million. [more - original PR]

Rolls-Royce: "Our outlook for 2016 is unchanged from that set out in November 2015. On a constant currency basis Group revenue for 2016 is expected to be marginally lower than that achieved in 2015, partially reflecting the pricing and volume effects in Civil Aerospace and the continued weakness in offshore marine markets. Overall, the net profit trading headwinds discussed in previous announcements are unchanged at around £650m compared to our underlying profit before financing, excluding the £58m intellectual property settlement included in 'Other' and the £19m R&D credit which benefited Nuclear." Source: Company statement, 12-Feb-2016.