Rolls-Royce on track for further profit growth in 2013

LONDON Thu May 2, 2013 2:13am EDT

LONDON May 2 (Reuters) - Britain's Rolls-Royce said it was on track to report good growth in underlying profit in 2013, after a strong first quarter from its civil aerospace unit.

Rolls, the world's second-largest maker of aircraft engines behind U.S. group General Electric, on Thursday said it also expects to deliver modest growth in annual underlying revenues with cash flow around breakeven.

The company said Tony Wood, currently the president of Rolls' marine unit, would take over as president of its aerospace business on May 13, replacing Mark King who has decided to resign from the company at the end of June.

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