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SummaryCompanies Aims for aerospace margin of 15-17%Expects medium-term annual operating profit of 2.8 bln stgShares rise 6.5%LONDON, Nov 28 (Reuters) - Rolls-Royce (RR.L) aims to quadruple profit in the next five years by boosting the performance of its jet engines and bearing down on costs in boss Tufan Erginbilgic's masterplan for Britain's most prestigious engineering company. That would be driven by surge in profit margins at its civil aerospace business to 15-17% from 2.5% last year. Agency Partners analyst Nick Cunningham said the targets implied Rolls-Royce was willing to shed revenues in exchange for better profitability. "If so, that is a deeper culture change from Rolls-Royce’s traditional market share optimisation approach of past decades," he said. "We will capture market share every year, but in a profitable way," he said.

Persons: Tufan, Erginbilgic, Nadja Wohlleben, Royce, Nick Cunningham, Rolls, Paul Sandle, Barbara Lewis, Mark Potter Organizations: Royce, Airbus, Boeing, REUTERS, Agency Partners, Trent, Thomson Locations: widebodies, Royce Germany, Dahlewitz, Berlin, Germany

Shares in the British company jumped 24% to 190 pence, the highest level since the start of the pandemic in March 2020. The company said it now expected profit this year of between 1.2 billion and 1.4 billion pounds ($1.6-1.8 billion), up from its previous guidance of between 800 million and 1 billion pounds. The market had been forecasting 934 million pounds. Chief Executive Tufan Erginbilgic, who joined the company in January, said his turnaround had started well, with progress already evident across the company. ($1 = 0.7755 pounds)Reporting by Paul Sandle and Sarah Young Editing by Kate Holton and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Tufan Erginbilgic, Bernstein, Paul Sandle, Sarah Young, Kate Holton, Mark Potter Organizations: Royce, British, Airbus, Boeing, Thomson Locations: Ukraine

The job cuts are the biggest in the history of Vodafone, which employs 90,000 people directly across Europe and Africa. Della Valle was given a mandate to turn Vodafone around when she permanently took on the top job from the role of CFO last month. Della Valle started cutting jobs when she took the helm at the start of the year, targeting Vodafone's central operations in London. Della Valle said the European telecoms market had long delivered a poor return on the capital invested in networks, but Vodafone's relative performance had worsened over time. "It will take as long as it takes to get a good deal," Della Valle told reporters.

LONDON, Nov 17 (Reuters) - London is losing out to Paris and Milan as a tourist destination for high-spending shoppers over the lack of a tax incentive, British luxury brand Burberry (BRBY.L) said, after its UK-based sales suffered. "We're not seeing the same degree of tourism in the UK as we used to because we're seeing more tourists are going into Paris, Milan," Brown told reporters on Thursday. Tourists in European cities can reclaim sales tax on some higher value purchases at certain retailers. Burberry's results on Thursday showed that continental Europe, particularly France and Spain, outperformed the rest of the Europe, Middle East, India and Africa region on a sales growth-basis, while British sales were in line with the average. "If there was an alternative tax-free shopping scheme available in the UK, I think it would definitely bring tourists back to the UK," said Brown.

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