Rolls Royce reports profits jump
Aerospace giant Rolls-Royce posted a 49% hike in profits today as it showed why its shares were among the best performing in the London stock market last year.
The firm said pre-tax profits jumped on a like-for-like basis to £584m (€849.4m) in 2005, following continued strong growth in its after-sales services arm.
The sector drove Rolls’ recovery from the aviation downturn seen after the September 11 terrorist attacks in the United States and helped send overall sales up 9% to £6.6bn (€9.6bn). The Rolls share price rose by 73% during 2005 as investors tuned into the company’s improved performance.
