Latest company news : Rolls Royce, BAE Systems, Cobham, Invensys
Latest company news : Rolls Royce, BAE Systems, Cobham, Invensys
2010/07/29 by ukcitymedia.co.uk about : Company Reports - 0 Comments - 506 words
Rolls-Royce believes that full year profit for 2010 will be slightly higher than 2009 as the revenue in the six months till the 30 June 2010 came in at £5,421m, up from £5,142m at the interim stage last year.
Power and aviation gas turbine manufacturer Rolls-Royce also indicated that its new arm, ODIM ASA is expected to contribute a healthy £200m to group revenues in 2010. Rolls Royce dividend at interrim was also announced at 6.4p, up from 6p last year.
The Rolls Royce order book at the end of the reporting period was at £58.4bn, about the same as end of last year while chief executive Sir John Rose indicated that cost control and a strong trading performance from the Marine business had served company well. "We expect a modest cash inflow for the year and average net cash balances to remain at a similar level to the first-half” added Sir John.
Cobham defence engineering subsidiary Cobham Analytic Solutions is to have opportunity to provide infrastructure and deployment support services to US Missile Defense Agency.
Cobham Analytic Solutions won a role as prime contractor in an Indefinite Delivery, Indefinite Quantity IDIQ contract and will compete for orders over the next five years through Missile Defense Agency Engineering Support Services MiDAESS contracts.
Randy Morgan, vice president, Cobham Analytic Solutions "Cobham is one of a small number of contractors selected through a highly competitive process to provide services under the MiDAESS contract... The award underpins our business with the Missile Defense Agency and is great news for our employees and industry partners."
Meanwhile fellow Defence specialist contractor BAE Systems also reported that it expects modest revenue growth in 2010 despite the likelyhood of cutbacks in defence spending by the new government.
BAE Systems reported sales growth of 9% in the first half of 2010 at £10,643m from £9,747m the year before while net debt as of 30 June 2010 stood at £1,202m, up for £316m in 2009.
The companies order book stood at £43.6bn from £44.3bn at the end of June last year as company indicated that a strategic review of markets and customer needs in the US has led to a change in organisation to realign BAE Systems to better deliver more efficiently. BAE Systems interim dividend was also raised to 7p from last year’s 6.4p.
Engineering firm Invensys expects an improved performance in the current year as companies Control division performed in line with expectations.
Invensys Operations Management performance solidly in the first quarter while Invensys Rail division reported underlying operating margins in the first half of the year will be in line with medium term target of 17%.
Invensys indicated net cash totalling £296m at 30 June 2010, the group had net cash totalling £296m, a reduction £67m after company acquired Skelta Software, made payments into the UK Main Pension Scheme and company covered some delayed contract receipts expected at Invensys Rail.
| |
|
Charts and related articles
To generate a share chart, get latest shares trades data or search for earlier articles, copy company name to clip board and CLICK HERE !
|
ukcitymedia.co.uk provides interest articles compiled from news releases already in the public domain. Articles are abbriviated news alerts or abstracts mostly originating from RNS news releases made in the week of posting. Investors are reminded to source original news releases, verify news and carry out own research before making investment decisions.
Other recent articles within category
