Rolls-Royce reports operating loss
The firm’s guidance for 2020 excluded any material impact from the coronavirus
Stocks impacted: Rolls-Royce Holdings PLC (RR)
Aircraft engine maker reported a 2019 operating loss of 852 million pounds, citing the cost of solving problems with its Trent 1000 engine that eclipsed record engine deliveries and a good after-market performance. At that, underlying core operating profit rose 25% to 810 million pounds. Revenue rose 7% to 15.5 billion pounds and free cash flow to 873 million from 568 million pounds, driven by underlying profit improvement. As for the outlook, the company noted that coronavirus was likely to hit air traffic growth in the near term, but long-term growth trends remain intact. The company added that its guidance for 2020 excluded any material impact from the coronavirus.
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