Aero enginemaker Rolls-Royce
Rolls, the world's second-largest maker of aircraft engines behind U.S. group General Electric Co
It is the first time Rolls-Royce has reported an annual profit in excess of 1 billion pounds. The result was helped by the positive impact of its acquisition of German engine maker Tognum and the 950 million pound sale of its stake in International Aero Engines.
The company, which also builds and tests nuclear devices for the UK navy, increased the full-year dividend by 9 percent to 17.5 pence per share.
Rolls said its order book grew 5 percent to a record 62.2 billion pounds, helped by significant orders from Singapore Airlines, Norwegian Airlines and Emirates Airlines, and said it was confident on its prospects for the year ahead.
For 2012 we expect good growth in both underlying revenue and underlying profit with cash flow around breakeven as we continue to invest in future growth, Rolls-Royce Chief Executive John Rishton said.
Our order book gives us good visibility of future revenues and demonstrates the confidence our customers have in us.
Shares in the company, which have risen a quarter in the last year, closed at 785 pence on Wednesday, valuing the group at around 14.7 billion pounds.
(Reporting by Rhys Jones; Editing by Neil Maidment)