Rolls-Royce flies past profit forecasts
Evening Standard|February 22, 2024
SHARES in Rolls-Royce topped the FTSE 100 today, after the world-famous aero engine maker’s annual profit more than doubled.
Michael Hunter
Rolls-Royce flies past profit forecasts

The rebound was powered by the return of jets to the skies and a strategy overhaul from its tough-talking chief executive, Tufan Erginbilgic.

He said the turnaround plan was behind the “record performance” as “we focused on commercial optimization and cost efficiencies across the group”.

Shortly after he was appointed, Erginbilgic compared Rolls-Royce to “a burning platform”. Today, he said there was “no silver bullet”, even as he hailed the success of efforts to “significantly improve management information and performance management” and pointed to more action.

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