Rolls-Royce net profit jumps 57%February 9, 2012 - 12:33 AMT PanARMENIAN.Net - Rolls-Royce, the British maker of aircraft engines, said Thursday, Feb 9, that net profit jumped 57 percent to £850 million ($1.35 billion, 1.01 billion euros) last year, boosted by a record order book. The 2011 earnings figure compared with profit after tax of £539 million in 2010, Rolls said in a results statement. The London-listed firm added that its order book swelled by five percent to a record £62.2 billion. "Rolls-Royce performed well in 2011, and at the year-end had a record order book, record underlying revenue and record underlying profit," said chief executive John Rishton in the earnings release. "We continue to benefit from a broad portfolio, a large and growing customer base and access to markets where demand remains strong for our products and services. Our order book gives us good visibility of future revenues and demonstrates the confidence our customers have in us," he said, AFP reported. In 2010, Rolls-Royce had taken a hit of £56 million due to safety issues with the Trent 900 engine used to power the Airbus A380 superjumbo. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. Armenian Catholicos calls for national unity against threats Karekin II issued a message on Republic Day marking the anniversary of the First Armenian Republic. Pashinyan: Armenia’s desired goal is “on the horizon” Prime Minister Nikol Pashinyan has said that Armenia is moving forward “without interruption”. Opposition leader, supporters spend night at Sardarapat memorial Police made nearly 300 arrests the day before as Galstanyan and his supporters continued to demonstrate in Yerevan. |