|Underlying OE revenue||1,231||1,102||12%|
|Underlying services revenue||1,186||1,133||5%|
|Underlying profit before financing||404||376||7%|
|Return on sales*||16.7%||16.8%||-0.1pp|
* By reference to underlying profit before financing costs and tax
- Profit increased by seven per cent. Adjusted for the SDSR benefit in 2011, profit increased by 28 per cent due to increased OE volumes and mix, growth in services, unit cost improvements and a lower R&D charge.
- The F-35B STOVL variant of the JSF entered service with the US and the first deliveries were made to the UK MoD. This followed a successful flight test programme for the F-35B that included over 500 short take-offs and landings.
- Engine deliveries for the first production Airbus A400M transport aircraft began in 2012 ahead of entry into service in 2013.
- Flight testing completed successfully with the US Air Force of the Series 3.5 enhanced T56 engine. The reduced fuel consumption and reliability improvements will enable the US Air Force to operate its C130H military transport aircraft until 2040, with improved performance, reduced emissions and significant cost savings.