Engineering giant Rolls-Royce (LON:RR) said today it was confident it could double revenues in the coming decade as global markets started to recover.
However, the aero-engine maker said that the economic recovery was fragile and the markets remained volatile.
"The group's balance sheet is robust. We continue to expect a modest cash inflow for the full-year, although we expect a cash outflow in the first half of the year," CEO John Rishton will tell shareholders at the company's AGM today.
In February this year, the firm released solid results for 2010 - after a difficult year for the company.
A Qantas Airbus A380 ‘superjumbo’ suffered a partial engine failure in service, while, on Boeing's 787 programme, engine failure during ground testing led to further delays for the entry-in-service of the new plane.
Today, Rishton will say that Rolls Royce's view of the full year trading performance remains consistent with the guidance issued at its preliminary results - which had been that during 2011 the group expected good profit growth and a modest cash inflow.
He will add: "The €3.2 billion joint public tender offer that Rolls-Royce is making, in partnership with Daimler AG, for the German industrial engines group Tognum AG would significantly accelerate the growth of our Marine and Energy businesses.
This joint venture would create a market-leading portfolio of clean, fuel efficient technologies and systems for the marine, transportation and distributed power generation sectors, he will tell shareholders.
Rolls Royce will report its interim results for the six month period ending 30 June 2011 on 28 July 2011.