Rolls Royce announces £287m pre tax profit in the first six months of 2017

Rolls Royce the FTSE 100n company, which has Airbus and Boeing as its customers delivered a pre-tax profit of £287m in the first six months of 2017 an increase of 150 per cent  on the same period last year.  Revenue rose  6 per cent to  £ 6.87bn  which includes currency exchange fluctuations. Trent engines propelled by its civil aerospace division  increased the productivity and efficient deliveries up by more than a quarter and saw lucrative after market maintenance work sales.

Warren East, Chief executive  said the results showed ” encouraging year-on-year operational progress, as the business was fundamentally strong and well-positioned in long-term growth markets”.

Shares in Rolls Royce rose 9 per cent yesterday to 969,5p. The stock is up 46 per cent till Jul 2017.

The interim results included absorbing the impact of £671m hefty settlement with the regulators for past bibery and corruption, as well as a non-cash write down of  £4.4bn on currency hedges due to Sterling’s depreciation following the EU referendum.