Earnings

Rolls-Royce shares jump 8% after 2023 profits more than double

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LONDON — Rolls-Royce shares jumped more than 8% on Thursday after the British aerospace group more than doubled its annual profits in 2023 and forecast further momentum this year.

Rolls-Royce, which manufactures jet engines for commercial aircraft along with power systems for ships and submarines, posted an underlying operating profit of £1.6 billion ($2 billion) in 2023, compared to £652 million in 2022.

The group also reported a record free cash flow of £1.3 billion, driven by strong operating profit and continued growth of its long-term service agreement…



Source cnbc.com

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