Rolls-Royce announces £1 billion record profits

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ROLLS-ROYCE has announced profits in excess of £1 billion for the first time. The firm has detailed its record order book and record underlying revenue and profit in its full year report. In its Civil Aerospace division, Rolls reported an order book of nearly £52 billion, 7% up on 2010.

The figures were released just as the firm announced it had secured a $210 million order with Fiji’s national airline Air Pacific for Trent 700 engines to power three Airbus A330 aircraft. This is the first time Air Pacific has selected Rolls-Royce engines.

Chief Executive John Rishton said: “Our order book gives us good visibility of future revenues and demonstrates the confidence our customers have in us.

“We see opportunities for profitable growth across our portfolio. For 2012 we expect good growth in both underlying revenue and underlying profit with cash flow around break-even as we continue to invest in future growth.”

During 2011, Rolls-Royce opened a new facility in Singapore, where wide-chord fan blades will be manufactured and Trent engines tested, for the first time outside the UK. A highlight for the firm was the first commercial flight of the Boeing 787 Dreamliner, which is powered by Trent 1000 engines, and is more fuel efficient than other civil aerospace models.