8/27, 8:06 AM (Source: TeleTrader)
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Rolls-Royce's revenue plunges 26% to £5.8B in H1

Rolls-Royce Holding PLC revealed on Thursday that its revenue landed at £5.8 billion in the first half of fiscal 2020, marking a 26% fall compared to the same period the year before. The firm's underlying revenue was £5.6 billion, after a 24% dive.

The aircraft engine maker’s operating loss stood at £1.77 billion, while its loss per share amounted to £2.8 during the six-month period ended June 30, the earnings report read.

"We ended 2019 with good operational and financial momentum. However, the COVID-19 pandemic has significantly affected our 2020 performance, with an unprecedented impact on the civil aviation sector with flights grounded across the world. We have made significant progress with our restructuring, which includes the largest reorganisation of our Civil Aerospace business in our history," company's CEO Warren East said asserted.

Breaking the News / BU