Rolls-Royce says on track to hit profit and cash flow goals for 2023

Rolls-Royce’s financial performance is improving, the company announced on May 11, ahead of its annual general meeting (AGM) taking place the same day. The company said the improvement has been “driven by our transformation programme workstreams and good end market demand for our products and services”, meaning that its likely financial performance for 2023 remains “in line” with expectations of £0.8-£1.0bn operating profit guidance and free cash flow guidance of 0.6-£0.8bn, which were announced in February, with cash flow generation expectations leaning toward the second half of the year. However, it warned that “supply chain management remains a key operational