Rolls-Royce is replacing the turbine blades in all of the Treat 1000 engines used in Boeing’s 787 Dreamliner following the discovery of corrosion and cracking Rolls-RoyceRolls-Royce, the British engineering company, reported a strong return to profit last year, despite the cost of repairs to Trent 1000 and Trent 900 engines. Pre-tax profits rose to £4.9 billion in the year to the end of December, helped by record aeroengine deliveries and a £2.6 billion profit from the revaluation of its $38.5 billion hedge book as sterling strengthened. In 2016 it suffered a £4.6 billion pre-tax loss after a £4.4 billion writedown caused by the collapse of the pound and a £671 million penalty to settle bribery allegations. Underlying profits jumped by 25 per cent to £1.07 billion and revenue rose from £13.8 billion to £15.1 billion, well above market expectations of £14.7 billion. Shares in the company jumped 11.5 per cent…

Source: The Times March 07, 2018 09:00 UTC