Rolls-Royce confident on 2011 profits

Rolls-Royce said it still expects an uplift in 2011 profit and is confident it will double revenues in the coming decade as its markets continue to improve.

The aerospace and defence group said: “The global markets that we address are starting to recover as expected and our view of the full year trading performance remains consistent with the guidance issued at our preliminary results in February 2011.

“However, the economic recovery is fragile and markets remain volatile.”

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Rolls’ £4.6bn offer with Daimler to buy German engine-maker Tognum was knocked back last month.

Rolls, the world’s second-largest maker of aircraft engines behind General Electric, said yesterday the deal would significantly accelerate the growth of its marine and energy businesses if successful.

But the company is confident in its ability to double revenues in the coming decade through organic growth alone, said new Rolls chief executive John Rishton.

Rolls is planning to build two new factories at Rotherham’s Advanced Manufacturing Park.