Rolls-Royce Holdings reports steep profit declines in 1H2016

Rolls-Royce Holdings revenue down 5% - financial highlights* for six months ended 30-Jun-2016:

• Revenue: GBP6143 million, -5% year-on-year;
• • Civil aerospace: GBP3171 million, -5%;
• Profit before financing: GBP158 million, -70%;
• • Civil aerospace: GBP31 million, -91%;
• Profit before tax: GBP104 million, -80%;
• Total assets: GBP24,687 million;
• Cash and cash equivalents: GBP2287 million;
• Total liabilities: GBP20,845 million. [more - original PR]

*Underlying

Rolls-Royce Holdings: "The successful roll-out of new engines, led in particular by the Trent XWB, 1000 and 7000, together with a growing aftermarket, is expected to drive significant revenue growth over the next ten years as we build toward a 50%-plus share of the installed widebody passenger market." Source: Company statement, 28-Jul-2016.