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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

[1/2] A BR700-725 jet engine is seen at the assembly line of the Rolls-Royce Germany plant, in Dahlewitz near Berlin, Germany February 28, 2023. Tufan Erginbilgic, who took over in January, is the latest chief executive to try to tackle the company's inefficiencies. On Tuesday the company said it planned to shed up to 2,500 roles out of its total staff of 42,000. "This is another step on our multi-year transformation journey to build a high performing, competitive, resilient and growing Rolls-Royce," he said. One in 2020 aimed at surviving the pandemic which slashed 9,000 jobs, and one in 2018 which made 4,600 redundancies.

Persons: Nadja Wohlleben, Grazia Vittadini, Tufan Erginbilgic, Royce, Warren East, Sarah Young, Kate Holton, Emelia Organizations: Royce, REUTERS, Airbus, Boeing, General Electric, Tuesday, Warren, Thomson Locations: Royce Germany, Dahlewitz, Berlin, Germany, Britain, United States

[1/2] A BR700-725 jet engine is seen at the assembly line of the Rolls-Royce Germany plant, in Dahlewitz near Berlin, Germany February 28, 2023. Tufan Erginbilgic, who took over in January, is the latest chief executive to try to tackle the company's inefficiencies. On Tuesday the company said it planned to shed up to 2,500 roles out of its total staff of 42,000. "This is another step on our multi-year transformation journey to build a high performing, competitive, resilient and growing Rolls-Royce," he said. As part of the new streamlining plan, Rolls-Royce said it would merge its engineering technology and safety groups, and as a result chief technology officer Grazia Vittadini would leave in April 2024.

Persons: Nadja Wohlleben, Grazia Vittadini, Tufan Erginbilgic, Royce, Warren East, Sarah Young, Kate Holton Organizations: Royce, REUTERS, Airbus, Boeing, GE, Tuesday, Warren, Thomson Locations: Royce Germany, Dahlewitz, Berlin, Germany, LONDON

☆ Rolls-Royce reports jump in first-half profit led by civil aerospace
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

A BR700-725 jet engine is seen at the assembly line of the Rolls-Royce Germany plant in Dahlewitz near Berlin, Germany, February 28, 2023. REUTERS/Nadja Wohlleben/File PhotoLONDON, Aug 3 (Reuters) - Aero-engineer Rolls-Royce (RR.L) reported underlying operating profit of 673 million pounds ($855 million) in its first half, more than five times the level of a year ago, led by a large improvement in its civil aerospace margin. The British company upgraded its full-year profit forecast last week to 1.2-1.4 billion pounds ($1.6-1.8 billion) from its previous guidance of 800 million-1 billion pounds. The market had been forecasting 934 million pounds. "Better profit and cash generation reflect greater productivity, efficiency, and improved commercial outcomes," he said on Thursday.

Persons: Nadja Wohlleben, Tufan Erginbilgic, Paul Sandle, Kate Holton, Sarah Young Organizations: Royce, REUTERS, British, Boeing, Thomson Locations: Royce Germany, Dahlewitz, Berlin, Germany

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