Rolls hits record £1.16bn profit
Derby and Bristol-based Rolls has been lifted by an order book that stood at £62.2 billion at the end of 2011, fuelled by demand in civil aerospace.
He added: "Our order book gives us good visibility of future revenues and demonstrates the confidence our customers have in us."
A year ago, the company's results were blighted by the £56 million impact of the mid-air failure of one of its Trent 900 engines on a Qantas superjumbo.
However, the civil aerospace division appears to have weathered the storm after its order book grew by 7% to £51.9 billion, a workload which includes more than 5,000 engines. Profits in the division increased by 27% to £499 million due to higher volumes and improved productivity.
Rolls expects the operation to produce further strong profits growth this year, alongside more modest improvements in its defence, marine and energy arms.
The pressure on Government budgets meant the order book in defence fell by 7% to £6 billion but Rolls said the £1.8 billion of new business achieved in the year demonstrated there were still opportunities for growth.
Rolls completed one of the biggest deals in its history last year when it joined forces with Mercedes-Benz owner Daimler to acquire German engine maker Tognum for around £3 billion. The company will combine Tognum with its own Bergen business, which makes engines used across the maritime and power generation sectors.
The profits figure of £1.16 billion represented an increase of 21% on a year earlier and was helped by foreign exchange benefits worth £54 million. Shareholders will receive a full-year dividend of 17.5p a share, an increase of 9% on a year earlier.