Over the first 10 months of the year, Rolls-Royce said that demand remains strong in its Civil Aerospace business, with “significant” large engine orders. Large Engine Flying Hours (a key driver of revenue for Civil Aerospace) grew by 8%, reaching 109% of pre-pandemic levels.
In the Power Systems division, strong revenue growth was driven by data centres where demand for backup systems remained high.
Full-year guidance has been maintained, with underlying operation profits and free cash flows expected to be between £3.1-3.2bn and £3.0-3.1bn respectively.
£0.9bn of the ongoing £1.0bn share buyback programme has been completed.
The shares were broadly flat in early trading.
Our view
HL view to follow.
Rolls-Royce key facts
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