Rolls-Royce sees profit at lower end of range on engine troubles

Rolls-Royce has warned it expects profits to come in at the lower end of its guided range and recorded a hefty charge as the disruption from its troubled Trent 1000 engines weighs on the aero-engine group. The FTSE 100 group expects to take a £1.4bn exceptional charge to its full-year profits as a result of the engine troubles, which have forced it to embark on an extensive programme of repairs and redesign some components after turbine blades on certain variants of the engine corroded faster than expected. Across the period between 2017 and 2023, Rolls-Royce expects cash costs from the engine troubles of around £2.4bn.