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 | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |