By Kyle Morris
Rolls-Royce Holdings PLC mentioned Thursday that its pretax loss widened for 2022 widened and {that a} strategic evaluate is underway to establish funding priorities.
The British aerospace and protection firm posted a pretax lack of 1.50 billion kilos ($1.81 billion) in contrast with a pretax loss for 2021 of GBP294 million.
Income got here in at GBP13.52 billion in contrast with GBP11.22 billion a yr prior.
For 2023, the corporate is focusing on working revenue steerage of GBP0.8 billion-GBP1.0 billion and free money circulation steerage of GBP0.6 billion-GBP0.8 billion.
“Our transformation program is already underway and is transferring at tempo. It is going to embrace a strategic evaluate in order that we are able to prioritize our funding in the direction of essentially the most worthwhile alternatives. We are going to report the findings along with our medium-term objectives within the second half of this yr,” Chief Govt Tufan Erginbilgic mentioned.
Rolls-Royce mentioned shareholder funds will not be made for 2022, however that it’s dedicated to resuming them.
Write to Kyle Morris at kyle.morris@dowjones.com
