Rolls-Royce annual net profit jumps 57%

Rolls-Royce, the British maker of aircraft engines, said Thursday that net profit jumped 57 percent to £850 million ($1.35 billion, 1.01 billion euros) last year, boosted by a record order book. The 2011 earnings figure compared with profit after tax of £539 million in 2010, Rolls said in a results statement. The London-listed firm added that its order book swelled by five percent to a record £62.2 billion. "Rolls-Royce performed well in 2011, and at the year-end had a record order book, record underlying revenue and record underlying profit," said chief executive John Rishton in the earnings release. "We continue to benefit from a broad portfolio, a large and growing customer base and access to markets where demand remains strong for our products and services. "Our order book gives us good visibility of future revenues and demonstrates the confidence our customers have in us." In 2010, Rolls-Royce had taken a hit of £56 million due to safety issues with the Trent 900 engine used to power the Airbus A380 superjumbo