Rolls-Royce: sinks back to losses in H1
(CercleFinance.com) - Rolls-Royce has announced H1 2022 revenue of 5.
6 billion pounds, slightly up on last year's H1 figure (5.16 billion pounds).
However, underlying operating profit fell from 307 million pounds to 125 million pounds.
Rolls-Royce recorded an underlying loss of 188 million pounds in H1, compared with an underlying profit of 104 million pounds a year ago.
This resulted in underlying EPS of -2.24p, down from 1.25p in H1 2021.
Rolls-Royce expects underlying revenue to increase by 1% to 5% in 2022. The UK engine maker expects civil aerospace to improve in H2, driven by expected higher sales of large engines.
The share is currently down 9.5% on this news in London.
Copyright (c) 2022 CercleFinance.com. All rights reserved.