F&I Management & Training

Aircraft engine manufacturer Rolls-Royce has said it is confident about its long-term prospects, despite the challenges of the current recession. Its comments came as it reported a 2008 pre-tax profit of £880m, up 10%. The Derby-based company's annual revenues increased 22% to £9.1bn, while its order book rose by 21%. Rolls-Royce said it was too early to say what effect the downturn would have, but predicted 2009's profits would be similar to those in 2008. "The group's financial position remains strong and investors continue to enjoy a progressive dividend payment," said Keith Bowman, analyst at Hargreaves Lansdown Stockbrokers. "Management continues to deserve credit for both the current business model and retaining faith in the virtues of manufacturing."

DATED: 15.02.09

FEED: AW