Rolls-Royce issues interim management statement

Rolls-Royce has maintained its full year guidance for 2015. The aero engine manufacturer has stated that it expects performance to be more weighted towards the second half, while deliveries of Trent XWB engines will ramp up. Rolls-Royce said that on cash, it expects a first-half bias in the cash cost of its restructuring efforts, with the benefits of restructuring beginning to be seen later in the year. It therefore also expects free cash flow to be more weighted towards the second half than in 2014. The 2015 guidance excluded the effects of foreign exchange translation. Compared with 2014, average rates