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Updated: February 10, 2011 19:01 IST

Rolls-Royce profits rise despite £56m A380 bill

AP
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The emblematic
The emblematic "Flying Lady" mascot for a new Rolls-Royce car, at the Peninsula Hotel in Hong Kong. File photo: AP.

For the year ending December 31, Rolls Royce said on Thursday that its net profit was 539 million pounds ($862 million) compared with 2.22 billion a year earlier. It booked a loss of 432 million pounds on financing income, compared with a gain of 1.79 billion a year earlier

Aircraft and marine engine maker Rolls Royce says its full?year profit fell by 76 percent as financing costs took a huge bite out of rising income.

For the year ending December 31, Rolls Royce said on Thursday that its net profit was 539 million pounds ($862 million) compared with 2.22 billion a year earlier. It booked a loss of 432 million pounds on financing income, compared with a gain of 1.79 billion a year earlier.

Revenue was up 6.4 percent to 11.1 billion pounds.

Profit was also hit by a 56 million pounds charge related to the failure of a Trent 900 engine on a Qantas A380.

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