Rolls-Royce trims sales outlook
It expects bumpier ride given difficult economic situation and Russian trade sanctions
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US