The British aeroengine maker’s half year results showed ‘solid’ interim results that has put Rolls-Royce at the top of its industrial peer group.
Order intake (new orders in this period) reached £9.1 billion which including orders worth £6 billion in civil aerospace, putting its gross order book up 4% at £60.1bn. Underlying revenue is at £5.8bn, up 5%.
Profit before tax is £637m, up 7%, while earnings per share rose 11% to 26.54 pence.
CEO John Rishton said: “Rolls-Royce has delivered solid growth in underlying revenue and underlying profit in the first half of the year.”
“For the full year, we continue to expect good growth in underlying profit with cash flow around breakeven, excluding the positive impact of the Tognum acquisition and the sale of our equity stake in IAE [Aero Engines AG].”
The company said much of the growth was a result of the popularity of its BR700 engines series with the smaller airframe platforms, where customers include Bombardier and Gulfstream.
The sale of Aero Engines AG this year affected its net cash position, up £869m from £223m from in the first half of 2012.
Shares in Rolls-Royce climbed five percent to 870 pence by 10am, valuing the group at £16.3 billion.
