November 7, 2019 / 7:16 AM / a month ago

Rolls-Royce sees operating profit at lower end on Trent 1000 issue

LONDON, Nov 7 (Reuters) - British aerospace engineer Rolls-Royce said its full-year operating profit and free-cash flow would come in at the lower end of guidance as it works to restore confidence in its Trent 1000 engine.

It said it expected to take an exceptional charge of about 1.4 billion pounds ($1.80 billion) in 2019 on Trent 1000, associated with customer disruption and future contract losses from a small number of customer contracts.

Chief Executive Warren East said his top priority was improving customer confidence in the Trent 1000.

“We are today announcing additional action to further expand our maintenance capacity and increase our stock of spare engines,” he said on Thursday.

$1 = 0.7789 pounds Reporting by Paul Sandle

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