NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Rolls-Royce CEO says company ready for a no-deal Brexit if needed

Published 06/08/2019, 07:55
© Reuters. Warren East, CEO of Rolls Royce, speaks at the Confederation of British Industry's (CBI) annual conference in London
RR
-

LONDON (Reuters) - Britain's Rolls Royce (L:RR) said it was prepared to cope with the fallout from a disorderly Brexit after the aero-engine maker spent around 100 million pounds to increase inventory among other preparations, its chief executive said.

"We've grown the amount of inventory that we have, inventory and other measures to deal with issues around Brexit, totalling around 100 million pounds at the moment," Warren East told BBC Radio.

"We would obviously prefer a deal because that is the best way of providing certainty for business but we've always been prepared for a no-deal of some kind."

© Reuters. Warren East, CEO of Rolls Royce, speaks at the Confederation of British Industry's (CBI) annual conference in London

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.