Engineering firm announces pre-tax profits are down by 57% to £310m in the first half as company moves towards more fuel-efficient engines

The new boss of Rolls-Royce has pledged to make the defence and aerospace group simpler and faster after it reported that profits have slumped by more than half.

The FTSE 100 engineer said that pre-tax profits fell by 57% to £310m in the six months to 30 June as it suffered from falling demand for its jet engines.

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Source: The Guardian Circular Economy RSS