Raise in revenue at ROLLS-ROYCE

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Despite economic turbulence and continued delays in a number of major aircraft programmes, it was revealed that ROLLS-ROYCE profits rose 4% last year.

Rolls-Royce said success in winning new customers and orders, as well as its ongoing focus on costs, meant underlying profits improved to £915m in 2009. Revenues increased 14% to £10.4bn.

It expects trading conditions to remain challenging this year but said it was confident of matching last year's revenues and profits.

Chief executive Sir John Rose said: "Rolls-Royce has delivered a solid set of results despite difficult trading conditions. This demonstrates the resilience of our business."

The company's order book stood at £58.3bn at the end of the year after new business intake of £13.4bn during 2009.

This included growth in the civil aerospace division's order book to £47bn after new orders totalling £9.4bn in the year.

However, volatile trading conditions and the continuing effects of major programme delays impacted on profits, which fell to £493m from £566m a year earlier.

Huge oil price rises in 2008 have been blamed for the delayed take-up of Airbus A380 and Boeing 787 widebody programmes in the year.

Revenues generated from outside civil aerospace continued to grow strongly and comprised 56% of revenues in 2009. This was driven by increases of 19% and 17% respectively in its defence and marine segments.