RR Wins £11.7bn Of Orders In 2014

Rolls-Royce received orders totalling £11.7bn ($18bn) for its civil aircraft engines and aftermarket services last year.

The group’s civil aerospace division saw full-year revenues increase by 2.7 per cent to £6.8bn ($10.5bn), compared with £6.7bn ($10.5bn) in 2013.

Sales of new equipment totalled £3.3bn ($5bn) in 2014 increasing 6.9 per cent year on year, however, aftermarket sales saw a drop of 1.3 per cent to £3.6bn ($5.5).

The engine maker has also cut its profit forecast for 2015, after pretax profit across its divisions fell eight per cent. 

In November Rolls-Royce announced its plans to cut 2,600 jobs as it restructured its aerospace division and central functions.

In announcing its full-year results, the company confirmed 545 staff had left by the end of 2014 and the restructuring programme had cost £164m ($252m) so far.

The engine maker also revealed that it expects to see the programme save £50m ($77m) this year and £80m ($123m) a year from 2016 onwards.

TAGS: Europe
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