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Rolls-Royce blames pandemic supply chain woes and hit to aviation for £111m loss

Shares fall 10% as outgoing chief Warren East says jet-engine manufacturer has ‘post-Covid indigestion’ Rolls-Royce’s chief executive, Warren East, has warned of supply chain problems and inflation in his final results announcement at the helm of the jet engine maker, saying the company is suffering “post-Covid indigestion”. The share price of the FTSE 100 manufacturer slumped by 10% on Thursday morning to near its low point earlier this year after it missed analysts’ forecasts for profitability. Rolls-Royce said it made an underlying loss of £111m in the first half of 2022, compared with a profit for the same period in 2021. Continue reading...
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