Full Year results stated:
The company stated today that it swung to pretax profit in 2017 and that it expects mid-single-digit revenue growth in 2018
Profit for the year ended Dec. 31 was £4.9bln, compared with a loss of £4.64bln a year earlier
Underlying pretax profit, (a figure that strips out one-time items and currency fluctuations), rose 31% to £1.07bln
Revenue rose 9% to £16.31bln
Rolls Royce said it expects the restructuring to deliver a significant reduction in costs and to improve performance across the group
As of 8.17am the stock was trading up c.10.9% at c.916p