Rolls-Royce Holdings Confirms Full-Year Outlook, Reports Weak Demand in Marine Business
Rolls-Royce Holdings PLC (RR.LN) said on Thursday that it was reconfirming its full-year outlook, and that its marine division had been impacted by weak demand.
The engineering company reported that it is making steady progress in the second half and that it continues to achieve its key targets.
Chief Executive Warren East said that the company's performance for revenue, profit and free cash remains on track. However, Mr. East cautioned that the marine business continues to be impacted weak demand for products and services for the offshore oil and gas market. There had also been changes to timings for new export orders for the defense aerospace division, he added.
Rolls-Royce said that its transformation program is proceeding well and providing cost savings.
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(END) Dow Jones Newswires
November 09, 2017 02:57 ET (07:57 GMT)