Rolls-Royce doubles profits as firm grows ‘with pace and intensity’

Engineering giant Rolls-Royce has doubled its profits for the first six months of 2024 to an impressive £1.1bn.

Rolls reported this morning (August 1) that revenues had also increased – up to almost £8.2bn from £6.9bn in 2025.

The company, which employs several thousand people at its factory in Patchway near Bristol.  has now raised its full-year guidance and expects profits to come in between £2.1bn and £2.3bn.

Tufan Erginbilgic, chief executive said: “Our transformation of Rolls-Royce into a high-performing, competitive, resilient and growing business is proceeding with pace and intensity. We are expanding the earnings and cash potential of the business in a challenging supply chain environment, which we are proactively managing. We are on track to deliver our mid-term targets.

“Our strong first half results reflect the continued delivery of our strategic initiatives and a relentless focus on commercial optimisation and cost efficiencies across the group. These results and our increased financial resilience give us the confidence to raise our 2024 guidance and reinstate shareholder distributions in respect of the full year 2024 results.”