Rolls-Royce blames supply chain woes and Covid hit to aviation for £111m loss

Rolls-Royce has been hit by delays in the supply of semiconductor chips and its pledge to cut ties with Russia, a major titanium supplier. Photograph: Peter Cziborra/Reuters

Rolls-Royce’s chief executive, Warren East, has warned of supply chain problems and inflation in his final results announcement at the helm of the jet-engine maker, saying the company is suffering “post-Covid indigestion”.

The share price of the FTSE 100 manufacturer slumped by 10% on Thursday morning to near its low point earlier this year after it missed analysts’ forecasts for profitability. Rolls-Royce said it made an underlying loss of £111m in the first half of 2022, compared with a profit for the same period in 2021.