Global power systems provider, Rolls-Royce, has announced strong trading figures for the period from 30 June to 29 October 2008.
All four of the company’s businesses reported good results with orders increasing by £5bn since the end of June. Current trading remains in line with market expectations with the group benefiting from a positive net cash position.
Rolls-Royce expects to increase underlying revenue and profits by the end of the year. Plans have already been put in place to reduce operating costs and further action is being taken across its businesses to reduce the impact of falling consumer confidence.
Sir John Rose, chief executive of Rolls-Royce, said: ‘Clearly, the global economy has deteriorated rapidly but it is too early to determine the precise effect this will have on our markets.‘However, the breadth of our business and product portfolio, our access to a wide range of global markets, our growing installed base, the strength of our balance sheet and our ability to manage costs effectively mean that we are well positioned to deal with the challenging economic conditions.’