4th May 2005 10:43
4 May 2005 AGM STATEMENT ON CURRENT OUTLOOK Rolls-Royce Group plc is today holding its 2005 Annual General Meeting at theExcel Centre in London. The address to shareholders by Sir John Rose, ChiefExecutive, contains the following statement:"Our investment in a wide portfolio of products has led to a steady expansionin our market share, with a growing number of Rolls-Royce engines in service.The resulting expansion in our aftermarket services is making a growingcontribution to our business. We are investing significantly in supportcapabilities that will add value for our customers while adding predictabilityto our own future earnings."Looking to the future, our strong order book, the long-term services revenuestream and our focus on operational performance all underpin our expectationsof a continued growth in profits in 2005 and further reduction in average netdebt. Current trading is consistent with these expectations."All resolutions presented to the meeting will be voted on by poll. The resultsof the poll will be announced on the Company's website as soon as they areavailable (www.Rolls-Royce.com).NOTE TO EDITORS 1. Rolls-Royce announced in April its adoption of International Financial Reporting Standards (IFRS). This entailed a restatement of its 2004 results and an indication that IFRS results for 2005 "are expected to be significantly ahead of current market expectations, which are based on UK Generally Accepted Accounting Principles". 2. For the avoidance of any doubt, the phrase "expectations of a continued growth" cited in the Chief Executive's statement is a confirmation that the Company's trading performance is consistent with its original guidance for 2005, irrespective of the recent accounting changes. For further information please contact:Duncan Campbell-SmithDirector of Corporate CommunicationsTel: +44 (0)20 7227 [email protected] GROUP PLCRelated Shares:
Rolls-Royce