MARKET TALK: Rolls Royce 1H Results Solid - Hargreaves

29th Jul 2010 09:07

0807 GMT [Dow Jones] Rolls Royce's (RR.LN) 1H results are solid, says Keith Bowman, Equity Analyst at Hargreaves Lansdown Stockbrokers, against a difficult backdrop. The strategy aimed at reducing the volatility of earnings is again evident, with after-sales service revenues now nearing a third of group total. However, Bowman notes management has underlined near-term economic uncertainty, whilst comparatives over the second half are expected to become more challenging. Potential cuts in defence are also a concern. Shares +2.2% at 600.5p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 29, 2010 04:07 ET (08:07 GMT)