Rolls-Royce Holdings reported an underlying post-tax profit of £1.1 billion ($1.7 billion) for 2012, up 24% on the previous year’s figure of £896 million, on underlying revenues of £12.2 billion, a rise of 8%.
The company comprises four main divisions—civil and defense aerospace, marine and energy, of which civil aerospace is the largest.
Civil aerospace reported underlying revenues of £6.4 billion, up from £5.5 billion for the year-ago period. The division delivered 668 powerplants, up from 554 for the preceding year.
“In the full year, underlying profits increased for the tenth consecutive year,” CEO John Rishton said. “The strength of our order book demonstrates the confidence our customers have in our products and services.” The company as a whole reported its order book had grown 4%, to £60.1 billion.
Order book for the civil aerospace division was up 5%, at £49.6 billion and the division anticipated “modest growth in revenue and strong growth in profit” in 2013.
Chairman Simon Robertson will retire at this year’s annual general meeting May 2 after eight years in the post. He will be replaced by Ian Davis, who has spent more than 30 years with McKinsey & Co., including six as chairman and worldwide managing director.
atwonline.com
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