LONDON, Feb 13 (Reuters) - Britain’s Rolls Royce exceeded expectations with a 23 percent rise in full year profit on Thursday, and forecast 2014 profits to be flat on the back of declining defence and marine revenues, before growth resumes in 2015.
Rolls, the world’s second-largest aircraft engine maker behind U.S. group General Electric, reported on Thursday 2013 underlying pretax profit of 1.76 billion pounds ($2.92 billion), up from 1.43 billion pounds in 2012. Underlying revenue rose 27 percent to 15.5 billion pounds.
The company was expected to post average full-year pretax profit of between 1.36 billion pounds and 1.89 billion pounds according to a Thomson Reuters survey of 19 analysts.
It also raised its dividend by 13 percent to 22 pence per share. Its order book increased by 19 percent to 71.6 billion pounds.