Rolls-Royce withdraws from Boeing's new mid-market engine race

Rolls-Royce said it had withdrawn from a competition to power Boeing`s planned mid-market aircraft because it could not meet the timetable, as the British group reported a full-year underlying operating profit of 616 million pounds ($819 million).

The aerospace engineer also said on Thursday it had increased the charge it had taken on fixing problems with its Trent 1000 engines to 790 million pounds from 554 million pounds at the half year. ($1 = 0.7524 pounds)

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