Rolls-Royce braces itself for £2bn writedown
Rolls-Royce will see £2bn wiped off the value of its assets this week, say City analysts, because of the fall in sterling since the EU referendum result on 23 June.
Analysts say the Derby-based firm's writedown is not due to a cost increase, but an accountancy adjustment from the falling pound.
They also say the news could put the FTSE 100 firm into the red when it announces its first half results on Thursday.
The Derby-based aero engine company trades in dollars and takes out financially complex hedging contracts to protect again... 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...
