Same outlook for Rolls-Royce

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Engineering company Rolls-Royce said there was no change to its guidance for 2014 and 2015, giving some reassurance there had been no further deterioration in the three weeks since it issued a shock profit warning.

The company, the second-largest maker of aircraft engines after US group General Electric, saw its shares tumble on October 17 when it said profit would not rise next year, blaming cancelled and delayed orders.

Last week, it replaced its finance director and cut 2,600 jobs saying that underlying annual profit would take a £60m hit this year and next from restructuring charges, partly related to the job losses.

The company has a base at the Advanced Manufacturing Park in Rotherham.