In today's episode Adrian Lawrence our in-house financial expert talks about Rolls Royce who have reported a £4billion loss today compared to £583m profit in the previous year. Their results are brutal but that does reflect that their model is to charge for the hours their engines are running rather than for sales of engines. The impact of the worldwide pandemic has very badly impacted on their model. The company is reducing its workforce by 7,000 people and is in discussions to sell some of its subsidiaries.
The positive news is that with the roll out of vaccines worldwide, the worse is behind the company, but it will still be later in 2021 before the world of international travel returns more to normal.
To learn more about Reporting Accounts and how we have information and insights covering more than 4.8 million UK companies please visit our website at https://www.reportingaccounts.com
This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit reportingaccounts.substack.com
Podchaser is the ultimate destination for podcast data, search, and discovery. Learn More