Troubled aero-engineer Rolls-Royce (LON:RR) maintained its underlying outlook for the year on Friday, confirming that all businesses were performing in line with expectations.
Chief Executive Warren East commented on the group’s performance on Friday, saying that whilst he was pleased with the start of the year, there was still more to do to deliver.
“As expected, near term cash flow performance remains challenging as we continue to invest in transforming and growing the business to benefit future years,” he said.
The aircraft engine maker, who have issued several profit warnings over the last couple of years and enrolled in a strict cost-cutting programme, warned back in February that 2017 earnings will only be modestly better than a year earlier.
Underlying free cash flow, which was £100 million last year, is expected to be around the same for 2017.
Rolls-Royce (LON:RR) shares are trading higher on the announcement, currently up 1.96 percent at 912.00 (1043GMT).
