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Rolls-Royce to ditch targets and suspend dividend: FT

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Via Reuters Finance

FILE PHOTO: A man looks at Rolls Royce’s Trent Engine displayed at the Singapore Airshow in Singapore February 11, 2020. REUTERS/Edgar Su

(Reuters) – UK aero-engine maker Rolls-Royce will abandon its targets on profits, cash and deliveries, and suspend its dividend, due to the coronavirus outbreak, the Financial Times reported late on Sunday.

Rolls-Royce is also aiming to announce new credit facilities in excess of 1 billion pounds ($1.22 billion) to bolster liquidity, the newspaper said

Reporting by Bhargav Acharya in Bengaluru; Editing by Daniel Wallis

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