Share price soars as Rolls-Royce profit projections take off

Shares in Derby manufacturing giant Rolls-Royce rose sharply on Wednesday (26 July) after the firm posted better-than-expected half year results and full-year projections.

Shares were changing hands at around 184p at the close of trading – up over 20% on their opening price – by far the highest figure of the year so far and at levels last seen in 2020.

The news comes after Rolls significantly upgraded its full-year profit forecasts after a strong first six months of the year.

Rolls will make an underlying profit of £660-680m in the first six months of year – up from its forecast of £328m, while full-year profits are expected to reach £1.2-£1.4bn – a significant hike from the previous consensus of £934m.