Rolls-Royce reports 2021 half year results

Rolls-Royce has reported a “good start to the year with improving cash flow and profits from continuing operations”. For the first six months of 2021, the engine manufacturer reported revenue of £5.2bn with underlying operating profit of £307million, up from a £1.63bn loss in 2020 H1, mainly due to cost savings from the restructuring programme, primarily in civil aerospace. Rolls-Royce has a negative free cash flow of £1.174bn, which is significantly better than prior year with negative cash flow of £2.86bn. Rolls-Royce states that this will improve to negative £2bn at the end of this financial year thanks to expected savings of around £1bn