Rolls-Royce Shares Soar After Record-Breaking Results in 2023

The Rolls-Royce share price surged to its highest level in almost a decade following the release of exceptional financial results for the year 2023. Trading at over 367p per share, the stock reached a value not seen since March 2014.

Rolls-Royce reported a substantial increase in underlying operating profit, climbing from £652 million in 2022 to nearly £1.6 billion in 2023. Revenue also witnessed a significant uptick, rising from around £12.7 billion to £15.4 billion.

The company’s free cash flow for the year hit an all-time high of nearly £1.3 billion. Tufan Erginbilgic, the CEO of Rolls-Royce, expressed satisfaction with the results, stating, ‘We are unlocking our full potential as a high-performing, competitive, resilient, and growing Rolls-Royce.’

Looking ahead to 2024, Rolls-Royce anticipates sustained progress, with projected underlying operating profit ranging between £1.7 billion to £2 billion, and free cash flow estimated to fall between £1.7 billion to £1.9 billion.