Britain's Rolls-Royce posts record reported loss

On an underlying basis, profit fell by 49 percent to 813 million pounds, soundly beating market expectations, on revenue 2 percent lower at 13.78 biillion pounds.

February 14, 2017 / 13:22 IST

British aero engine maker Rolls-Royce posted a record reported loss of 4.6 billion pounds (USD 5.8 billion) on Tuesday, reflecting a fine to settle bribery charges and the collapse in the pound which hit its hedging position.

On an underlying basis, profit fell by 49 percent to 813 million pounds, soundly beating market expectations, on revenue 2 percent lower at 13.78 biillion pounds.

The company said it expected "modest performance improvements" this year.

first published: Feb 14, 2017 01:22 pm

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