LONDON (dpa-AFX) - Rolls Royce Holding plc (RYCEF.PK, RR.L, RYCEY.PK), on Thursday, reported H1 underlying profit before taxation of £1.035 billion versus £524 million last year. On a per share basis, earnings surged to 8.95p from 4.90p in the previous year.
Statutory profit before taxation was £1.416 billion or 13.71p per share versus £1.419 billion or 14.70p per share in the year ago period.
Underlying operating profit increased to £1.149 billion from £673 million in the prior year period, driven by the company's transformation programme and strategic initiatives, with commercial optimisation and cost efficiency benefits across the Group.
Revenue for the period amounted to £8.182 billion, higher than the previous year's revenue of £6.950 billion. Statutory revenue was £8.86 billion versus £7.52 billion last year.
Looking ahead, the company now projects FY24 underlying operating profit in the range of £2.1 billion - £2.3 billion and free cash flow between £2.1 billion and £2.2 billion. Previously, the company expected underlying operating profit of £1.7 billion - £2.0 billion and free cash flow of £1.7 billion - £1.9 billion.
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