Rolls-Royce takes £900m hit to profits
Profits at Derby-based Rolls-Royce will be £900m lower last year under accounting rules about to come into force, the company will tell shareholders today.
At a Capital Markets Day to be held today, chief executive Warren East will update investors on the potential impact of incoming rules on when revenues should be recognised.
The company has previously brought forward earnings from contracts for it engines to negate the impact of most being sold at break even or a loss.
However, the International Accounting Standards Board (IASB... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
