Aero enginemaker Rolls-Royce
Rolls, the world's second-largest maker of aircraft engines behind U.S. group General Electric Co
For the full year, the board continues to expect good growth in underlying profit ... Rolls-Royce has continued to make progress since the half year, with encouraging order flow from a broad range of global customers, Rolls-Royce chief executive John Rishton said.
Rolls, which makes engines for planemakers Airbus
The company, which recently acquired half of German engineer Tognum, also said it was forming a joint venture with Pratt to develop the next generation of engines for the mid-sized narrow body market. This deal is viewed as a positive move by analysts who forecast that some 20,000 narrow body planes will be produced in the next 20 years.
Rishton said the Tognum deal would add significantly to the scale of energy and marine opportunities, while the Pratt agreement was an important new venture for the company.
Rolls-Royce is expected to post a 2011 pretax profit of between 1.04 billion pounds and 1.49 billion pounds, with the average at 1.13 billion pounds, according to a Thomson Reuters I/B/E/S poll of 22 analysts.
Shares in Rolls-Royce, which have risen 28 percent in the last three months, closed at 709.5 pence on Thursday, valuing the business at around 13.4 billion pounds.
(Reporting by Rhys Jones; editing by Adveith Nair)