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Rolls-Royce losses narrow

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Christian Fernsby ▼ | February 28, 2020
Rolls-Royce Holdings said today that its pretax loss narrowed and underlying operating profit rose in 2019, benefiting from higher revenue in the year.
Rolls-Royce   Pretax loss was 891 million pounds
Rolls-Royce said its pretax loss was 891 million pounds ($1.15 billion) in the year, compared with a loss of GBP2.95 billion in 2018.

Topics: Rolls-Royce

Rolls-Royce underlying operating profit the company's preferred metric which excludes exceptional costs was GBP808 million, up from GBP616 million. Revenue in the year was GBP16.59 billion, up from GBP15.73 billion.

The Trent 1000 program had an exceptional charge of GBP1.36 billion, driving a reported operating loss to GBP852 million, from a loss of GBP1.16 billion the prior year.

The company said the rollout of technical fixes for Trent 1000 is progressing well, with further measures under way to reduce customer disruption.