Rolls-Royce says underlying profit up eight per cent

Engine maker Rolls-Royce Group met forecasts with an eight per cent rise in underlying first-half profit and said it would continue to deliver profitable growth despite global economic conditions.

"The youth, scale and geographical diversity of our civil aerospace installed base, along with our broad portfolio, will help mitigate the consequences of uncertain conditions in the airline industry," chief executive officer John Rose said. Rolls-Royce made an underlying pre-tax profit of £410 million in the six months to end-June, on revenue up 13 per cent to £4.05 billion.

The company is best known for making aero engines and booming demand for commercial airlines in recent years has left it with a record order book of £53.5 billion on June 30, up 17 per cent year-on-year.