From Morningstar: 2024-08-02 08:50:00

Rolls Royce exceeds expectations in the first half of the year, with an operating profit of £1.1 billion and a 74% increase in profit from the previous year. All three business divisions contributed to the strong financial performance, driving a 60% increase in share price and a 10% rise on news of dividend reinstatement.

Additionally, Rolls Royce is making strides in reducing debt and improving profit forecasts. The company has cut gross debt to £3.6 billion and is on track to achieve investment grade ratings. Cost management programs are expected to save £400 to £500 million annually by mid-term, with procurement initiatives to mitigate supply chain challenges. Operating profit and cash flow guidance for 2024 have been revised upwards based on the strong first-half performance.



Read more at Morningstar: Rolls-Royce Earnings: Shares Rise as Dividend Restored