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Future of British Business

Rolls-Royce’s Exiting CEO Posts Earnings Miss as Long-Haul Lags

  • Profit down in first half as large-engine demand trickles back
  • East stands by outlook, sees demand gaining as year goes on
Updated on

Rolls-Royce Holdings Plc Chief Executive Officer Warren East unveiled lackluster first-half results in his final earnings presentation while saying a mounting recovery in long-haul travel means the jet-engine maker should still hit its full-year financial targets.

The UK engineering giant posted an underlying operating profit of 125 million pounds ($152 million) for the first six months, down from 307 million pounds a year earlier and lower than predicted by analysts.