|FY Review - £ million||2011||2010||Change|
|Order book||51,942||48,490||+ 7 %|
|Engine deliveries||962||846||+ 14 %|
|Underlying revenue||5,572||4,919||+ 13 %|
|Underlying OE revenue||2,232||1,892||+ 18 %|
|Underlying services revenue||3,340||3,027||+ 10 %|
|Underlying profit before financing||499||392||+ 27 %|
The order book increased by seven per cent, including new orders of £11.0bn. The order book contains over 5,000 engines that will add around 250m pounds of installed thrust to our current installed base of 400m pounds of thrust. During 2011 we secured orders for more than 200 Trents, among the most significant were:
Revenue increased by 13 per cent. OE revenue grew 18 per cent, largely as a result of higher deliveries of widebody and corporate and regional engines. Services revenue grew by 10 per cent. This was due to growth in TotalCare revenue during the year and a recovery in time and materials.
Profit increased by 27 per cent due to increased volume, improving productivity, FX benefits and the non-recurrence of a one-off charge. This improvement was partially offset by higher R&D charges and the launch costs associated with major new programmes.