Rolls-Royce Group plc expects trading environment to remain challenging
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Rolls-Royce Group plc announced today (28 April) that trading conditions are likely to remain tough despite signs of stabilisation and improvement in the global economy, prior to unveiling its interim results for the six month period at the end of July.
In a trading interim released today (28 April) the group revealed that its trading performance in the year to date looks to stay consistent with expectations and that its view of the full year performance remained in line with its preliminary results released in February.
The group reported that expectations of underlying revenue and profits as well as average net cash balances were broadly similar to those achieved in 2009 despite a modest cash outflow in 2010.
Chief executive Sir John Rose, commented: "I am pleased with the progress that Rolls-Royce has made over the last few years. The disciplined application of our mission critical power systems strategy over more than two decades has made our business more broadly based, better balanced and as a consequence more resilient. We have maintained our focus and continued to invest in technology, product and infrastructure, making further strong progress in 2009 in all of these areas."