ValueAct

Does Rolls-Royce need shaking up?

Does Rolls-Royce (RR.) need shaking up? Or more to the point perhaps, will they be following the disclosure that activist fund manager ValueAct has taken a 5% stake in the company, although their agenda is as yet unclear. On the 30th July Rolls-Royce issued their half-year results. Results were disappointing as expected. The order book was up, but underlying revenue was down and underlying profit before tax down by 32%. This is basically the same story as was evident at the full ...