LONDON (dpa-AFX) - Aerospace and defence company Rolls Royce Holdings plc (RYCEF.PK) Thursday reported statutory loss before tax of 1.502 billion pounds for the full year, wider than loss of 294 million pounds last year, mainly due to 1.579 million pounds net fair value losses on derivative contracts.
Excluding one-time items, the company posted underlying profit before tax of 206 million pounds, up from 36 million pounds a year ago.
Statutory net loss from continuing operations was 1.194 billion pounds or 14.24p per share compared with net profit of 124 million pounds or 1.47p per share in the year-ago period.
Underlying profit from continuing operations was 158 million pounds or 1.95p per basic share compared with 10 million pounds or 0.11p per basic share in the previous year.
Statutory revenue for the year increased to 13.52 billion pounds from 11.218 billion pounds.
Underlying revenue rose to 12.691 billion pounds form 10.947 billion pounds last year, driven primarily by sales growth in Civil Aerospace, Defence and Power Systems.
Looking forward to 2023, Rolls Royce expects operating profit of 800 million pounds- 1 billion pounds. In 2022, the company's statutory operating profit was 837 million pounds.
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