Rolls-Royce Raises Profit Guidance, Reinstates Dividends as Shares Hit Record High

Aug 1, 2024, 07:36 AM

Rolls-Royce has raised its profit guidance for the year and announced the reinstatement of dividend payments, marking the first time since the pandemic. The aerospace manufacturer, known for its aircraft engines and power systems, is benefiting from greater cost discipline and increased demand for large jet turbines. The company's pretax profit has soared, leading to a boost in its operating profit and free cash flow guidance. Rolls-Royce's shares have hit a record high following these announcements. The company reported a strong first half, with shares soaring to an all-time high.