Low profit in the first half, says to manage inflation

Low profit in the first half, says to manage inflation


The British carmaker, however, recorded a lower operating profit in the first half, to 125 million pounds (149.21 million euros), against 307 million pounds in the previous year, on sales of 5.31 billion pounds.

Rolls-Royce shares fell 4.78% on the London Stock Exchange at 7:55 GMT.

Group chief executive Warren East, who will be replaced by former BP chief executive Tufan Erginbilgic at the end of the year, said the company had “performed well” in the half-year, with free cash flow of more than £1 billion and . intake of good order in power systems.

“We are fully managing the impact of a number of challenges, including rising inflation and continued supply disruptions, with greater focus on prices, productivity and costs,” he said in a statement.

(Reporting by Paul Sandle; French editing by Federica Mileo, editing by Kate Entringer)