Rolls-Royce shares surge as engine maker lifts outlook

London: Shares in Rolls Royce surged by more than nine percent in London trading Thursday after the British maker of aircraft engines raised its full...

London: Shares in Rolls-Royce surged by more than nine percent in London trading Thursday after the British maker of aircraft engines raised its full-year outlook on strong demand.

The company reported a fourfold increase in first-half net profit to £4.4 billion ($5.8 billion), which compared with £1.1 billion in the first six months of 2024.

The sharp rise was attributed to rising sales and a significant accounting gain linked to weakening of the dollar.

Revenue increased seven percent to £9.5 billion in the reporting period.

Rolls-Royce, which supplies engines to the world's biggest aircraft manufacturers Airbus and Boeing, has undergone a major turnaround since chief executive Tufan Erginbilgic took the helm in 2023.