No recession at Rolls Royce
23 August 2001
ROLLS-ROYCE plc INTERIM RESULTS 2001
Rolls-Royce plc announced today interim results for the half-year ended 30 June 2001.
Highlights are:
Profit and cash on course
Sales up 15 per cent, at £3,042 million
Underlying profit before tax on target at £190 million
Average net debt reduced by 25 per cent to £940 million
Order book and service revenues increased
Record order book of £14.9 billion
Service revenues up 20 per cent, representing 40 per cent of total revenue
Acquisitions – integration completed; businesses progressing well
Improved operational performance – underlying trading margin up 15 per cent
Sir Ralph Robins, Chairman, said:
"These results demonstrate the importance of the strategic changes made by management over recent years. We have secured significant market success with our growing range of products and innovative through-life services, and all of our businesses have good prospects.
"Our order book has increased again to a record level of £14.9 billion.