Rolls-Royce profits surge 21%

AIRCRAFT engine manufacturer Rolls-Royce has reported buoyant annual results and a record order book of £62.5bn.

The company, one of the largest employers in Barnoldswick, Lancashire, where it has has 950 staff at two sites producing wide chord fan blades for commercial engines, said underlying profit before tax had surged 21% to a best-ever £1.16bn as 2011 revenues rose 4% to £11.2bn.

The global company, which also makes engines for warships and submarines and components for the nuclear sector, said its prospects remained good for further growth despite global uncertainty.

Chief executive John Rishton said: “We continue to benefit from a broad portfolio, a large and growing customer base and access to markets where demand remains strong for our products and services.

“Our order book gives us good visibility of future revenues and demonstrates
the confidence our customers have in us.  

“For 2012 we expect good growth in both underlying revenue and underlying
profit with cash flow around breakeven as we continue to invest in future
growth.”