Tag: $Rolls-Royce

Aero-engineer Rolls-Royce on Thursday reported a strong recovery in profit as its new CEO’s turnaround plan gathers pace.

LONDON, July 26 (Reuters) – Aero-engineer Rolls-Royce (RR.L) hiked its full-year operating profit forecast by around 45% on Wednesday after operational improvements, increased military spending and a recovery in long-haul flying delivered a stronger-than-expected first half.

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British engine maker Rolls-Royce said the new CEO’s plan to boost the company’s profitability was moving “at pace”, and it was on track to meet 2023 forecasts, buoyed by cost savings and the ongoing travel recovery.