Rolls-Royce repeats guidance for flat profits in 2014

LONDON Thu May 1, 2014 2:17am EDT

LONDON May 1 (Reuters) - Britain's Rolls-Royce said it was on track to report flat revenue and profit in 2014, in line with an earlier forecast, and said that a one-off charge in its marine unit meant that its performance would be weighted to the second half.

The guidance for flat profit and revenues excluded the impact of adverse currency movements, it said, which it estimated at 40 million pounds ($67.54 million) on profit and 300 million pounds on revenue at current rates.

Rolls-Royce, the world's second-largest maker of aircraft engines behind U.S. group General Electric, said it would take a 30 million pound charge in its marine business to rectify a quality issue, resulting in a 10 percent reduction in profit in that business.

"The group's financial performance in 2014 is expected to be weighted to the second half of the year, with around two thirds of the full year 2014 profit being generated in the second half," the company said in a statement on Thursday. ($1 = 0.5922 British Pounds) (Reporting by Sarah Young; Editing by Brenda Goh)

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