Rolls-Royce has reported improvements across its civil aerospace, defence and power systems business.
The aerospace giant, which has UK bases in Bristol and Derby, has said in a statement this morning (May 11) that its positive changes have been driven by its transformation programme workstreams and market demand. However, the company has closed its R 2 Factory venture to keep costs down.
The company, which is holding its Annual General Meeting today, said its underlying operating profit guidance of £800m to £1bn and free cash flow guidance of £600m to £800m in 2023 is unchanged.
