Engine manufacturer Rolls-Royce’s underlying civil aerospace profit increased by 23% over the first half of this year as sales rose by nearly 6%.
Underlying profit in the division, before financing costs, reached £246 million ($458 million) in the six months to 30 June. The company turned in revenues of £1.78 billion.
The company says that the results reflect continuing growth of its aftermarket service business. Sales in this sector rose by 8% and the company expects this to grow by more than 10% over the full year.
Aftermarket sales accounted for 60% of Rolls-Royce’s overall civil aerospace income.
Rolls-Royce achieved the healthy first-half performance despite a reduction in engine deliveries to 412, against 441 by the same point last year, following a slowing of 50-seat regional aircraft demand.
Overall Rolls-Royce revenues reached £3.39 billion, up 6.5%, although group operating profit fell by 10% to £361 million. The company expects to increase underlying profits for the full year.