Rolls-Royce share price falls as sales drop for the first time in a decade February 13, 2015 The figures Shares at troubled engineering giant Rolls-Royce opened 3.3 per cent lower this morning after it reported a sales drop of six per cent to £13.7bn in 2014, the company's first drop in sales in a decade. Revenues fell six per cent to £14.6bn, while underlying pre-tax profits dropped eight per cent to £1.6bn (dead on [...]
Rolls-Royce wins $442m worth of contracts for cut-price technology February 9, 2015 Rolls-Royce plc yesterday revealed three new contracts worth a total of $442m (£290m) to provide lift fan propulsion systems for F-35B Lightning II aircraft. The company will produce and support its LiftSystem technology for the planes, in a series of deals agreed between Rolls-Royce and US aerospace manufacturer Pratt & Whitney, which provides the propulsion [...]
Aston Martin finance chief Hanno Kirner quits to take new post at Rolls-Royce February 2, 2015 Aston Martin’s chief financial officer has quit the luxury car-maker to take up the same position at Rolls-Royce’s land and sea division. Hanno Kirner, who had been with James Bond’s brand of choice since 2010, has been immediately replaced by Vikram Bhatia, who the company praised for his Deloitte training and “more than 30 years’ [...]
Rolls-Royce in £75m deal to help power up South African trains with 232 MTU Series 4000 engines January 26, 2015 Rolls-Royce has signed a €100m (£75m) contract to deliver 232 MTU Series 4000 engines to a subsidiary of Chinese locomotive manufacturer CNR Dalian in South Africa. The engines, which are the most powerful MTU locomotives currently operating with an output of 3,300 kilowatts each, are to be installed in new freight locomotives for South African operator [...]
On A Roll! Rolls Royce breaks sales record January 6, 2015 LUXURY car manufacturer Rolls Royce has broken its own sales record for the fifth time in a row, selling 4,063 cars last year, an increase of 12 per cent. The UK-based company is owned by BMW and is said to be considering designing a four-wheel drive vehicle.
Rolls Royce gets $5bn Delta Air Lines deal November 21, 2014 Rolls Royce has won a $5bn (£3.2bn) contract from Delta Air Lines to deliver engines for 50 aircraft. The company will also provide care and support services to the aircraft, which will include 25 Airbus A350s and 25 A330neo aircraft. Rolls Royce has had a relationship with Delta Air Lines for over 40 [...]
Rolls-Royce to pay ex-finance chief Mark Morris £900,000 November 5, 2014 Departing Rolls-Royce chief financial officer Mark Morris is to receive a final remuneration package of more than £900,000. His departure was announced yesterday, and took effect immediately, with no reason given for his leaving. The package, also revealed yesterday, includes £717,150 to be paid in lieu of his 12-month notice period. Morris will receive 12 [...]
Thousands will lose their jobs at Rolls-Royce November 4, 2014 ENGINE-MAKER Rolls-Royce saw shares go up by 1.56 per cent yesterday after revealing that it was going to cut 2,600 jobs, in a move that it said would result in annualised cost benefits of around £80m. Rolls-Royce chief executive John Rishton said the firm would work closely with employees and their representatives to achieve the reductions [...]
Rolls-Royce share price jumps as it announces plans to cut 2,600 jobs November 4, 2014 Shares in Rolls-Royce jumped 2.63 per cent in mid-afternoon trading after it announced plans to lay off 2,600 staff – including its finance director. In a statement to the stock market today, the company said the cuts, which will mainly take place in its aerospace division, were "consistent" with plans announced last month. It added [...]
Rolls-Royce share price dives following profit warning October 17, 2014 Rolls-Royce Holdings share price fell this morning after warning that its underlying revenue may be 3.5 to four per cent lower in 2014 compared to last year, on the back of worsening economic conditions and tightening Russian trade sanctions. The British engine maker said leading customers had cancelled orders particularly in the Nuclear & Energy [...]