Rolls-Royce says it will recover in the second half
Rolls-Royce, which is in turnaround mode after warning last year that 2016 profit would halve, reported an underlying pretax profit of £104m for the first six months of the year, beating a consensus forecast for it to be £16m in the red.The company said its outlook for the full year is unchanged, driven by a pick-up in large aero-engine deliveries, growth in demand for engine servicing and as it benefits from a cost cutting program. Analysts expect profit it to post pretax profit of £669m in 2016.'‹'‹Chief '‹e'‹xecutive Warren East'‹ said: "'‹Order intake has been good and, although known headwinds constrained revenue and profit in the first half, the business remains well positioned to deliver a solid second'‹ '‹half performance'‹."'‹Following the EU referendum, Rolls-Royce reaffirmed its commitment to the UK but warned that longer term assurances w'‹ill'‹ depend on '‹the'‹ post-Brexit deal.'‹Rolls-Royce is involved with The '‹'‹Advanced Manufacturing Research Centre (AMRC) in South Yorkshire, which is managed by the University of Sheffield.