Rolls-Royce profits plunge by 80%
Rolls-Royce has endured a torrid first half of 2016 new results released this morning reveal.
The Derby-based manufacturing giant's profits dropped by 80% to £104m for the first half 2016. However, this did beat analyst forecasts that it would be £16m in the red.
On an unadjusted basis, the engine maker suffered a pre-tax loss of £2.15bn in the six months to June due to a large one off financing cost.
The firm said it was laying off 400 people this year - 200 more than previously announced. Some 270 people have already left ... 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...
