British engineering holding Rolls-Royce reported annual profit growth in 2023 more than doubling the consensus forecast, and predicted further growth in 2024.
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The group’s core operating profit in 2023 amounted to 1.6 billion pounds sterling ($2 billion), which significantly exceeded analysts' forecast of 1.4 billion pounds sterling and the company's own expectations of 1.2-1.4 billion pounds sterling, compared with 652 million in 2022.
< p>The manufacturer of aircraft engines and propulsion systems for ships and submarines expects underlying operating profit in 2024 to rise by at least 6% to between £1.7 billion and £2 billion, compared with the current consensus forecast in £1.7 billion.
During 2023, Rolls-Royce shares soared by more than 200%, showing the best performance among British blue chips.