Derby based Rolls Royce have announced profits rising 148% for the six months to 30 June.
The firm made a profit of £287m during the past six months, compared to £104m last year. Revenues were also up slightly – by 6% to £6.9bn.
Warren East, chief executive, said: “Rolls-Royce delivered encouraging year-on year operational progress in the first six months of the year.
Civil Aerospace large engine deliveries increased 27% and we made good further progress improving Trent XWB OE economics. Restructuring savings were ahead of plan.
Together with a higher than expected benefit from long-term contract accounting adjustments, this resulted in a good set of results, with financial performance ahead of our expectations for the first half. Looking to the balance of the year, execution and delivery of a number of important milestones across our businesses will be key to achieving our full year expectations. Our outlook for full year profit and cash remains unchanged.”
Midlands-based Nasmyth Metallics Bulwell has secured contracts worth more than £60m from global engine maker Rolls-Royce.
The new contracts, which create and secure jobs at the company’s Pinxton plant, enter Nasmyth Bulwell into long-term agreements for legacy and new complex components. These are destined for engines that reportedly include the Rolls-Royce XWB and Trent 1000 which are fitted to Airbus and Boeing’s new wide body airlines.
Established in 1956, Nasmyth Bulwell has been supplying Rolls-Royce for almost 50 years It has continued to heavily Invest in the latest manufacturing technology and in the skills of its growing 260-strong workforce.
Nasmyth Bulwell is also celebrating receiving a Business Leaders Award from global multinational defence, security and aerospace customer BAE Systems. The award recognised work done by Bulwell with BAE Systems to machine a fuel pipe that had been traditionally difficult to manufacture by casting.