May 7, 2020 / 6:19 AM / a month ago

BRIEF-Rolls-Royce Says It Can Deliver Up To £1 Bln Of Savings This Year

May 7 (Reuters) - Rolls-Royce Holdings PLC:

* ROLLS-ROYCE HOLDINGS - AGM STATEMENT

* ROLLS ROYCE - CAN NOW DELIVER UP TO £1.0 BILLION OF SAVINGS THIS YEAR

* ROLLS ROYCE - HAVE TAKEN A NUMBER OF IMMEDIATE ACTIONS TO ADAPT TO CURRENT MARKET CONDITIONS

* ROLLS ROYCE - WORKING WITH OUR SUPPLY-CHAIN TO REDUCE DIRECT PROCUREMENT AS WELL AS PLACING OVER 4,000 OF OUR OWN EMPLOYEES IN UK ON FURLOUGH

* ROLLS ROYCE - CURRENTLY EXPECT TO DELIVER AROUND 250 WIDEBODY ENGINES IN 2020, DOWN FROM OUR PREVIOUS GUIDANCE OF 450

* ROLLS ROYCE - CAN NOW DELIVER UP TO £1.0 BILLION OF SAVINGS THIS YEAR

* ROLLS ROYCE - ACTIONS INCLUDE WORKING WITH SUPPLY-CHAIN TO REDUCE DIRECT PROCUREMENT AS WELL AS PLACING OVER 4,000 OF OWN EMPLOYEES IN UK ON FURLOUGH

* ROLLS ROYCE - ACTIONS ARE NOT EXPECTED TO IMPACT RECOVERY OF TRENT 1000

* ROLLS ROYCE - AIRFRAME CUSTOMERS HAVE REDUCED AIRCRAFT PRODUCTION RATES Source text for Eikon: Further company coverage:

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