Rolls-Royce is predicting better profit this year and said most of the costs related to last year’s engine blowout on a Qantas Airbus A380 are behind it.
Announcing its full-year results, the British aircraft engine maker said the Qantas incident has cost it the equivalent of 66 million euros.
Underlying pretax profit grew four percent to 1.12 billion euros. That was due to solid growth in its defence and marine units and was better than analysts had predicted.
Rolls suffered technical setbacks on two programmes in 2010. Last year one of its Trent 900 engine failed mid-flight on a Qantas Airbus A380, forcing it to make an emergency landing. On
Boeing’s 787 programme, engine failure during ground testing led to further delays for its entry into service.
Rolls said future growth would be subdued in many developed countries but this would be offset by strong demand in emerging economies, which account for around half of its 70 billion euro order book.