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Rolls Royce Holdings Posts Narrower Loss In H1; Maintains FY Guidance

Rolls Royce Holdings plc (RYCEF.PK,RR.L, RYCEY.PK) reported a pretax loss of 791 million pounds for the half-year ended 30 June 2019 compared to a loss of 1.2 billion pounds, previous year. Loss per share was 48.02 pence compared to a loss of 51.60 pence.

First-half Group underlying operating profit improved by 32% to 203 million pounds. Underlying Group loss per share was 1.6 pence compared to profit of 2.5 pence. Underlying core operating profit increased to 203 million pounds from 146 million pounds. Underlying core loss per share was 1.4 pence compared to profit of 3.1 pence.

First-half Group underlying revenues rose 7% to 7.35 billion pounds, primarily driven by growth at Civil Aerospace and Power Systems, offsetting a 29% decline in non-core revenue. Core underlying revenue increased to 7.2 billion pounds from 6.7 billion pounds, prior year.

The Group said it remains on track to meet full-year guidance for underlying core operating profit and core free cash flow.

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