Rolls-Royce Holdings (RR.)

Sector:

Defense and Aeronautics

Index:

FTSE 100

450.00p
   
  • Change Today:
    -3.20p
  • 52 Week High: 485.50p
  • 52 Week Low: 145.90p
  • Currency: UK Pounds
  • Shares Issued: 8,505m
  • Volume: 11,254,663
  • Market Cap: £38,272m
  • RiskGrade: 377

Rolls-Royce makes 'strong start' to FY24

By Iain Gilbert

Date: Thursday 23 May 2024

LONDON (ShareCast) - (Sharecast News) - Aerospace and defence business Rolls-Royce said on Thursday that it had made "a strong start to the year", building on its "record" performance in 2023 despite continued industry-wide supply chain challenges.
Rolls-Royce said it had continued to demonstrate "a strong track record of delivery", with operating profits and cash growth reflecting an underlying performance improvement, driven by the impact of strategic initiatives, notably commercial optimisation including contractual improvements, cost efficiency actions, and the effective management of ongoing supply chain challenges.

The London-listed group kept its FY24 guidance unchanged, with a broadly balanced weighting for both profit and cash flow across the year.

Rolls-Royce highlighted that in its civil aerospace unit, long-term service agreement large engine flying hours had returned to 100% of 2019 levels in the four months to 30 April, driven by the continued recovery of international traffic in Asia and its growing fleet, while its defence division saw long-term growth underpinned by several recent contract awards, and its power systems arm saw its strong position in the data centre market provide growth opportunities as it continues to see higher demand from artificial intelligence and cloud services providers

Chief executive Tufan Erginbilgic said: "Our work to transform Rolls-Royce into a high-performing, competitive, resilient and growing business is continuing with pace and intensity as we execute on the granular strategy we set out last November. We are driving growth, delivering contractual improvements and improved margins, unlocking efficiencies and creating value across the group.

"We have had a strong start to the year, despite continued industry-wide supply chain challenges. This builds on our record performance in 2023 and provides further confidence in our guidance for 2024. The focused investments we are making will continue to drive growth and create value for all our stakeholders in the mid-term and beyond."

As of 1135 BST, Rolls-Royce shares were up 2.27% at 437.70p.







Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rolls Royce Market Data

Currency UK Pounds
Share Price 450.00p
Change Today -3.20p
% Change -0.71 %
52 Week High 485.50p
52 Week Low 145.90p
Volume 11,254,663
Shares Issued 8,505m
Market Cap £38,272m
RiskGrade 377

Rolls Royce Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.85% below the market average96.85% below the market average96.85% below the market average96.85% below the market average96.85% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
98.95% above the market average98.95% above the market average98.95% above the market average98.95% above the market average98.95% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
93.9% below the market average93.9% below the market average93.9% below the market average93.9% below the market average93.9% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
76.51% above the market average76.51% above the market average76.51% above the market average76.51% above the market average76.51% above the market average
80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average80.00% above the sector average

What The Brokers Say

Strong Buy 6
Buy 7
Neutral 3
Sell 0
Strong Sell 1
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rolls Royce Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Oct-19 25-Apr-19
Paid 03-Jan-20 01-Jul-19
Amount 4.60p 7.10p

Trades for 12-Jul-2024

Time Volume / Share Price
18:45 13,110 @ 450.08p
16:50 1,447 @ 450.00p
16:50 257 @ 450.00p
16:27 0 @ 450.30p
16:27 0 @ 450.30p

Rolls Royce Key Personnel

Chair Anita Frew
CEO Tufan Erginbilgic

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