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

Shares fall 10% as outgoing chief Warren East says jet-engine maker 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.

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Read the original article at The Guardian

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