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Pin to quick picksRolls-Royce Share News (RR.)

Share Price Information for Rolls-Royce (RR.)

London Stock Exchange
Share Price is delayed by 15 minutes
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Share Price: 415.60
Bid: 415.50
Ask: 415.70
Change: 9.90 (2.44%)
Spread: 0.20 (0.048%)
Open: 411.70
High: 416.40
Low: 409.20
Prev. Close: 405.70
RR. Live PriceLast checked at -

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TOP NEWS: Rolls-Royce Seals GBP347 Million UK Typhoon Engine Contract

Mon, 05th Aug 2019 13:16

(Alliance News) - The UK government has signed a GBP347 million contract with Rolls-Royce Holdings PLC to provide maintenance support for the engines of the Typhoon fighter jets operated by the Royal Air Force.

The multi-year contract will see FTSE 100-listed Rolls-Royce provide maintenance support to the EJ200 engine until 2024.

The GBP346.7 million five-year contract will result in Rolls-Royce repairing and maintaining the Typohoon engines as required as well as the provision of modules, spares and accessories to support the fleet.

In 2018, Rolls-Royce generated a GBP2.95 billion pretax loss on revenue of GBP15.73 billion. Underlying pretax profit stood at GBP483 million.

"Not only will this contract help to maintain our world-class jets, it secures 175 jobs across the UK and boosts the skills base our world-leading defence industry relies upon," UK Minister for Defence Procurement Anne-Marie Trevelyan said.

"Together with our multi-million-pound upgrade programme, this contract will ensure our Typhoon fleet continues to dominate the skies in the decades to come," Trevelyan added.

Shares in Rolls-Royce were 2.5% lower at 807.80 pence in London on Monday.

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