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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Rolls-royce Holdings Plc | LSE:RR. | London | Ordinary Share | GB00B63H8491 | ORD SHS 20P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-11.30 | -2.71% | 405.70 | 405.80 | 406.10 | 414.10 | 400.50 | 414.10 | 90,551,595 | 16:35:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Aircraft Engine,engine Parts | 16.49B | 2.41B | 0.2884 | 14.07 | 33.95B |
By Robert Wall
LONDON--Rolls-Royce Holdings PLC (RR.LN) on Tuesday said it swung to a full-year GBP4.03 billion ($5.05 billion) net loss and suffered a sharp decline in operating profit stung by a settlement over corruption charges, the fall in the British pound and setbacks on high-profile aircraft engine programs.
Rolls-Royce, best known for making aircraft engines for Boeing Co. and Airbus SE long-range planes, reported a GBP83 million profit the year prior. The loss in the latest year reflected a large, non-cash accounting hit from the revaluation of U.S. currency hedges after the British pound slumped in the wake of the Brexit vote. It included a GBP671 million a one-time charge for bribery settlements with U.S., British and Brazilian authorities.
The company's more closely watched underlying pretax profit, that strips out one-time items and currency fluctuations, fell for a third year to GBP813 million from GBP1.43 billion in the year earlier, ahead of expectations. Underlying sales fell 2% to GBP13.4 billion.
Earnings this year will only be modestly better, Rolls-Royce said. Underlying free cash flow, which was GBP100 million last year, should be similarly weak in 2017, the company said.
Rolls-Royce a year ago announced its first dividend cut since 1992 to maintain balance sheet health amid falling profits. The company said it would pay a 7.1 pence final dividend or 11.7 pence for the full-year compared with 16.4 pence for 2015.
Write to Robert Wall at Robert.Wall@wsj.com
(END) Dow Jones Newswires
February 14, 2017 02:50 ET (07:50 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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