Rolls-Royce Reports Rise in 1st Half Profit, Confirms Fiscal Year Guidance

07/26/2012| 02:48am US/Eastern

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LONDON--Aerospace and defense firm Rolls-Royce Holdings PLC (RR.LN) Thursday reported an increased pretax profit for the first half of the year and said that it continues to expect good growth in underlying revenue and underlying profit for 2012.

MAIN FACTS:

-Pretax profit for six months ended June 30 totaled 1.31 billion pounds, versus GBP1.14 billion.

-Underlying pretax profit of GBP637 million versus GBP595 million.

-Order book of GBP60.1 billion, versus GBP57.6 billion.

-Reported revenue of GBP5.72 billion versus GBP5.36 billion.

-Underlying revenue of GBP5.8 billion versus GBP5.46 billion.

-Diluted earnings per share of 63.83 pence versus 44.93 pence.

-Underlying earnings per share of 26.54 pence versus 23.89 pence.

-Half-year payment to shareholders of 7.6 pence versus 6.9 pence.

-Net cash GBP869 million versus GBP223 million.

-Full year 2012 cash flow to be around breakeven.

-Full year guidance includes the performance of Bergen, but excludes the impact of the Tognum acquisition and the IAE transaction.

-Completion of sale of share holding in International Aero Engines AG (>> ING Asia Pacific High Divid Eq Inco Fund).

-Expects the revised trading arrangements with IAE to produce a benefit of around GBP70 million to Civil Aerospace's underlying profit in 2012.

-Shares on Wednesday closed at 829 pence.

-Write to Tapan Panchal at tapan.panchal@dowjones.com

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