Rolls-Royce posts £4.6bn loss for 2016
Rolls Royce, which has its civil aerospace and nuclear divisions in Derby, has posted a £4.6bn loss for 2016 - the worst in its 111-year history.
The firm was recently hit with a £671m fine agreed with authorities in the UK, US and Brazil that will see it escape corruption charges.
The loss compares with a £160m profit made in 2015.
Despite its turbulent year, revenues at the firm rose 9% to nearly £15bn.
Rolls-Royce has been forced to follow accountancy rules and write down the value of its currency hedges to mirror sterlingâ... 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...
