Rolls-Royce says on track for full-year

Posted on July 31, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

(Reuters) – Engine maker Rolls-Royce (RR.L) said it was on track to return to growth next year, after reporting an expected 20 percent drop in first-half profit due to shrinking defence spending, currency headwinds and difficulties in its marine unit.

Rolls, the world’s second-largest maker of aircraft engines behind U.S. group General Electric (GE.N), on Thursday posted underlying pretax profit of 644 million pounds in the six months to the end of June, compared to a consensus forecast of 607 million pounds.