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Rolls Royce saw a large drop in it’s share price this morning after an unexpected profit warning, its fourth in just over a year.
The company pointed to a sharp drop in the number of corporate jets powered by Rolls-Royce engines in the third quarter, while demand for other corporate jet services also weakened.
The company now expects profit “headwinds” of £650m next year, more than double the £300m cut to profit identified in July.
We made a video this morning with our Head Analyst Ravi Lockyer, to ask him how he sees things unfolding after this news.
Please excuse the number of ‘”Um’s” that I use, I never realised that I did that quite so much, so something to work on!
Let me know what you think, or if there’s anything else you’d like to see covered in the future.
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