LONDON--Rolls-Royce Holdings PLC is suspending its share-buyback
program after sluggish demand for its less powerful aircraft
turbines and marine engines have weighed unexpectedly on profit so
far this year.
The engineering group, one of the U.K.'s leading industrial
companies, said on Monday that underlying pretax profit, a measure
that excludes some costs, is now expected to be £ 1.33 billion
($2.06 billion) and £ 1.48 billion this year, down from its
previous guidance of £ 1.40 billion to £ 1.55 billion.
Rolls-Royce also said underlying pretax profit is expected to
have been £ 390 million and £ 430 million in the six months to end
June, or around 30% of the expected full-year amount, compared with
40% in 2014.
Write to Tapan Panchal at Tapan.Panchal@wsj.com
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