Rolls-Royce reports 2017 Full Year Results

Roll-Royce Holdings has reported revenue of £16.307bn for the full year 2017, which is an increase of 6% on underlying basis, with civil aerospace service revenues up 12%.  Underlying profit before tax up 25% to £1.071bn, with reported profit before tax of £4.897bn – that figure includes a £2.6bn non-cash profit (2016: £4.4bn loss) from the revaluation of its $38.5bn hedge book as sterling strengthened. The company stated that its free cash flow improvement was driven by improved profits and good working capital management, and that its 2016-17 transformation programme achieved £200m run-rate savings. Civil Aerospace widebody invoiced flying hours