28th Jun 2016 06:12
LONDON (Alliance News) - Engineer Rolls-Royce Holdings PLC on Tuesday confirmed its outlook for 2016 and said the UK's decision to leave the European Union will not have an impact on its day-to-day operations in the short term.
The FTSE 100-listed engine maker confirmed its previous guidance that its performance in 2016 will be significantly weighted to the second half. The outlook for the second half, the group said, reflects an increase in large engine delivers, underlying growth in aftermarket revenue and expected benefits from ongoing restructuring programmes within the business.
Rolls-Royce said good progress has been made on its transformation programme, a push to cut costs and reduce complexity in decision-making within the business, and updates on this will be provided at its interim results.
Rolls-Royce added the decision by UK voters to leave the EU will have no immediate impact on its business, and it is committed to remaining in the UK. However, its medium and long-term outlook will be dependent on the relationships the UK establishes with the EU and the rest of the world in coming years.
By Sam Unsted; [email protected]; @SamUAtAlliance
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