Rolls Royce Holdings reports half year results

The Rolls Royce Civil Aerospace segment increased revenue by 17% in the first half of 2012. There was a 26% growth in OE revenue, primarily reflecting higher deliveries of Trent and corporate engines. Services revenue grew by 10% consistent with growth in the installed base of thrust. Profit increased by 24% due to increased OE volume, better OE mix, services growth and unit cost improvements. This growth was tempered by a higher R&D charge to higher spend and lower capitalisation related to major new programme activity, and lower entry fees related to the Trent XWB. Rolls Royce Civil Aerospace reported new orders of £6.0bn (£6.5bn in H1 2011), resulting in a 4% increase in the order book.