British aero-engineer Rolls-Royce raised its full-year operating profit forecast by around 45% on Wednesday after military spend and a recovery in long-haul flying delivered a stronger-than-expected first half.
A BR700-725 jet engine is seen at the assembly line of the Rolls-Royce Germany plant, in Dahlewitz near Berlin, Germany February 28, 2023. REUTERS/Nadja Wohllebenraised its full-year operating profit forecast by around 45% on Wednesday after military spend and a recovery in long-haul flying delivered a stronger-than-expected first half.
Chief Executive Tufan Erginbilgic, who joined the company in January, said his turnaround had started well, with progress already evident across the company. The company, whose engines power the Airbus A350 and Boeing 787, said underlying operating profit for the first six months would come in at just over twice the market expectation of 328 million pounds.
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