Record profits for Rolls-Royce in 2011

Rolls Royce, Patchway, Bristol

Rolls-Royce, which makes military aero engines and marine gas turbines at its plant in Patchway, has announced record annual profits of more than £1 billion for 2011.

The company’s order book was at peak levels at 31st December 2011, showing £62.2 billion of forward orders, a rise of 5% on its 2010 year-end.

John Rishton, Chief Executive, said:

“Rolls-Royce performed well in 2011, and at the year-end had a record order book, record underlying revenue and record underlying profit. 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.”

The Patchway factory, which employs just under 4,000 people, benefited from an increased amount of servicing work carried out as a result of the military action in Libya.

Read more: Rolls-Royce Holdings plc 2011 Full-Year Report