Turbo Tufan strikes again. It’s almost becoming predictable. Every time Tufan Erginbilgiç, chief executive of Rolls-Royce, sets “midterm” financial targets, the aero-engine maker beats them, or looks set to do so, in no time.
Back in February, Erginbilgiç was able to declare that the 2027 targets for operating profits would be hit two years early, so he set new ambitions for 2028. Six months on, even the refreshed numbers look conservative. After a strong first-half, Rolls now thinks it will make £3.1bn-£3.2bn of operating profit over the whole of 2025, or about £300m more than previously advertised. At the current rate of rapid progress, it looks a short hop to £3.6bn-£3.9bn in 2028.
