Rolls-Royce has reported a 1% dip in revenue for the first half of 2016, which reflects a non-cash impact of £2.2bn period-end mark-to-market revaluation of the company’s derivatives contracts. Rolls-Royce underlying profit before tax at £104m, down 80% at constant exchange rates Underlying revenue was down 5% at constant exchange rates, led by Civil Aerospace and Marine divisions. Although deliveries of newer Trent engines have increased, the results were impacted by the Trent 700 and business aviation sales, as well as declining regional and other large engine fleet aftermarket revenues; increase in technical costs for large engines, including the Trent

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