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Rolls-Royce: sinks back to losses in H1

( - Rolls-Royce has announced H1 2022 revenue of 5.
6 billion pounds, slightly up on last year's H1 figure (5.16 billion pounds).

However, underlying operating profit fell from 307 million pounds to 125 million pounds.

Rolls-Royce recorded an underlying loss of 188 million pounds in H1, compared with an underlying profit of 104 million pounds a year ago.

This resulted in underlying EPS of -2.24p, down from 1.25p in H1 2021.

Rolls-Royce expects underlying revenue to increase by 1% to 5% in 2022. The UK engine maker expects civil aerospace to improve in H2, driven by expected higher sales of large engines.

The share is currently down 9.5% on this news in London.

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