Rolls Royce profit surges to $2bn in FY23

Rolls-Royce’s underlying operating profits surged to £1.59bn (circa $2bn) in the full year 2023, more than doubling its 2022 full year result of £652 million ($823.39 million). Following the result, the company guidance predicted an underlying operating profit between £1.7bn and £2bn ($2.1bn and $2.5bn) for the year ahead. Revenue was at £15.4bn ($19.4bn), up from £12.7bn ($16bn) in 2022. The company reported a return on capital more than doubling to 11.3% “reflecting improved operating profit, disciplined capital allocation and working capital management.” “Our transformation has delivered a record performance in 2023, driven by commercial optimisation, cost efficiencies and progress