Sir John Rose issued an upbeat view of the next 12 months for Rolls-Royce as the aerospace company shrugged off the impact of a serious failure with one of its Trent 900 engines with a moderate rise in profits last year.
Giving his final results presentation before he steps down as chief executive next month after 15 years, Sir John on Thursday said he expected a "good profit growth and a modest cash inflow" during 2011.
The company said underlying pre-tax profits improved by 4 per cent in the year to the end of December to £955m, after £915m in 2009. The underlying figure takes into account "mark to market" adjustments to allow for gains and losses on hedging contracts.
Revenues rose 6 per cent to £11.1bn from £10.4bn while the company increased its final dividend 6.7 per cent to 9.6p, which together with the 6.4p already paid makes a total dividend of 16p, up from 15p last time.
Sir John said the company's overall performance in 2010 was "strong", in spite of the "regrettable" incident in November last year when a Trent 900 engine on an Airbus A380 operated by Qantas blew up shortly after leaving Singapore.
Even though aerospace experts warned the incident could have been catastrophic, the failure caused no deaths nor injuries.
No comments:
Post a Comment