Rolls-Royce profit was £700m less than stated under new accounting rules
Profits at Rolls-Royce could have been more than £700million lower last year under accounting rules about to come into force, the company is expected to tell shareholders.
Chief executive Warren East is expected to update investors tomorrow on the potential impact of incoming rules on when revenues should be recognised.
The company has typically brought forward earnings from contracts it has servicing jet engines to make up for most being sold at break even or a loss.
RELATED ARTICLES Previous 1 Next William Hill's online business returns to growth after... SMALL CAP IDEAS: UK onshore oil... read more
- 01:56 Venezuela says to issue bigger notes 'very soon' as inflation surges
- 01:53 'Sir Bradley Wiggins still has questions to answer': Chris Froome...
- 01:43 Austria's upcoming presidential bid pits far-right populist and...
- 01:36 U.S. president-elect, in break with practice, speaks to Taiwan's...
- 01:30 Hollywood star Steve Martin responds to Newcastle fans' anger in...
- 01:23 Exclusive: U.S. networking company Ixia explores sale - sources
- 01:19 China expresses concern as Yemen's Houthis form government
- 01:14 Winning Express betting scheme investors fear money lost
- 01:14 London's child intensive care units told to delay surgery
- 01:13 Cambridge Rainbow vegetarian cafe refuses new £5 note
- 01:09 Uganda cracks down on 'dissenting' Rwenzururu kingdom
- 01:08 Students call for nap pods at Edinburgh University
- 01:06 Amputee player Tommy McKay nominated for SPFL goal of the month
- 01:02 Christmas dinner costs 'rise 14%'
- 01:00 Money transfer firm WorldRemit eyes new markets, growth
- 01:00 Sirius reapproaches Pandora for a takeover: source
- 00:57 Santa vs Jesus board game 'blasphemous'
- 00:56 Alan Shearer insists 'you don't need to suffer in silence anymore'...
- 00:54 Migrants in Austria will be BANNED from purchasing firearms, under...
- 00:49 Christmas trees: Real or fake?
- 00:46 Sending a postcard from somewhere you've never been
- 00:44 Hayao Miyazaki: Japan's godfather of animation?
- 00:44 Will Spain ever ban bullfighting?
- 00:37 10 Secret Santa gifts you’ll definitely get AGAIN this year
- 00:31 Minimum alcohol pricing 'could improve nation's health'
- 00:31 Sir Edward Heath probe 'not a fishing trip or witch-hunt', police...
- 00:31 Southampton FC contacts police over historical child abuse probe
- 00:31 Post Office at 'crisis point' says union as staff strike over...
- 00:31 Corbyn in call to counter rise of 'political parasites' in the...
- 00:31 Network Rail 'to lose control of track maintenance'