Rolls-Royce says it's "on track" with 2019 H1 results

London-headquartered Rolls-Royce has revealed its 2019 half-year results.

The group has progressed ‘well’ this year, with a five per cent rise in its revenue.

Rolls-Royce is also said to be on track with its main underlying operating profit, as well as its free cash flow (FCF) of £700m.

Around £1bn of FCF has been recorded for financial year 2020.

Warren East, Rolls-Royce’s chief executive, said: “We delivered further progress across the group in the first half in line with our full year expectations.

“We expect a significant improvement in cash in the second half as we unwind inventory built up to support customer deliveries and benefit from improved trading in both power systems and civil aerospace.”

The company has also revealed its restructuring is on track, with £134m worth of run-rate cost savings. This is expected to increase in the second half of 2019.

Commenting on the full year outlook, Warren added: “We remain on track… After a decade of significant investment, we remain committed to delivering improved returns while continuing to invest in the innovation needed to realise our long-term aspiration to be the world’s leading industrial technology company.”

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