Rolls-Royce reports half year results

Rolls-Royce has posted group underlying revenue up 14% to £7.04bn and reported revenue up 12% to £7.5bn. The reported loss before tax was £1,262 million, a significant decrease compared to the 2017 half year profit before tax of £1,444 million. Civil Aerospace revenues rose 26% to £3.6bn with an underlying operating loss of £112 million. Rolls-Royce states that revenue growth was driven by a 24% increase in sales volumes of installed engines and spare engines, including to joint ventures, and increased services activity. The underlying operation loss reflects strong aftermarket trading including increased spare parts sales, higher OE spare engine