Luxury car manufacturer Rolls-Royce has released its third profit warning today in a little over a year, blaming the drop in oil prices and less demand for its aircraft engines.
The car company’s last profit warning was released in February, saying the sharp fall in oil prices had "increased uncertainty for many of our markets and customers".
Chief executive of Rolls-Royce, Warren East said: "I am clearly disappointed by today's announcement and the impact this will have on our investors and employees," adding "Notwithstanding the market developments, it is our responsibility to build a business that is sustainable and resilient, no matter what is thrown at us, and this will be my fundamental priority for the next few years."
Shares in Rolls-Royce after the profit warning dropped nearly 9% to 780p.
