Rolls-Royce trims sales outlook

Toulouse, France

ROLLS-ROYCE Holdings plc cut its sales outlook for the full year, saying revenue will fall rather than stay unchanged as customers delay orders and Russian trade sanctions bite.

Sales will drop between 3.5 and 4 per cent and free cash flow for the full year will be around £350 million (S$718 million), compared to previous guidance of about £780 million, Rolls- Royce said in a statement on Friday. The new guidance excludes adverse foreign exchange translation of £500 million, as previously predicted, it said.