Vickers profits soar to pounds 75m

Vickers profits soar to pounds 75m

A 10 per cent rise in sales of Rolls-Royce cars helped Vickers, the defence and automotive giant, to a 67 per cent increase in pre-tax profits last year to pounds 75m. The automotive division, which also includes specialist engine-maker Cosworth, saw profits almost double to pounds 41m. Shrugging off production problems on the group's pounds 1.5bn order for Challenger 2 tanks for the British Army, chief executive Sir Colin Chandler also dismissed renewed takeover speculation that has surrounded Vickers since late last year. The final dividend is increased to 4.3p, making 6.7p for the year.