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Rolls-Royce shares shot Thursday morning, since he lifted the profit forecasts and said he would buy around 1 billion shares of investors.
The aircraft manufacturing giant said the operational profits by 2025 will be up to £ 2.9 billion, above a previous estimate of up to £ 2.8 billion.
The company said it would reach its earning objectives “in the middle of the period”, established in 2023, two years earlier than planned, in the last stage of a change under the executive president Tufan Erginbilgic.
The shares increased up to 15 percent on Thursday morning.
Meanwhile, the repurchase is the first in 10 years in the FTSE 100 Giant, which is also one of the largest military suppliers in Great Britain, which manufacture engines and energy systems for large stripes of the military.
Those include engines for combat aircraft in the Royal Air Force and nuclear reactors that feed the Navy submarine fleet.
The results mark a significant change for the manufacturing giant of the United Kingdom, which was forced to raise emergency funds during the pandemic as the aviation industry stopped almost completely.
It occurs after Erginbilgic said that an increase in defense spending of the United Kingdom will bring more jobs, the economy will grow and help the development of technology in the country.
He said that defense programs “contribute significantly to economic growth” and more military investment “allows to develop supply chains, allows to develop labor skills.”
Pointing out the military programs related to the submarine and the combat planes in which Rolls-Royce is working, he said that climbing them “will create more jobs in the United Kingdom without any doubt.”
Prime Minister Sir Keir Starmer announced a dramatic increase in defense spending earlier this week, saying that it will increase from its current participation of 2.3 percent of the economy to 2.5 percent in 2027.
The policy occurs in response to the Russian leader “tyrant” Vladimir Putin and the uncertainty about the commitment of President Donald Trump with European security, while Sir Keir added that he wants defense spending to reach 3 percent of the gross domestic product during the next Parliament.
Erginbilgic joined Rolls-Royce in early 2023, and since then has reduced the company as part of an important response plan, which includes reducing 2,500 jobs from its workforce of approximately 50,000 Strong.
He has also fought with current supply chain problems that have hindered Rolls-Royce finances in the years since the pandemic, which the company said it would probably continue for a year to 18 months.
Rolls-Royce said Thursday that problems will cause a coup of £ 150-200 million. He said this is “similar to 2024, with availability of restricted pieces.”
Its underlying sales increased by a sixth to £ 17.8 billion in 2024, while its cash generation almost doubled to £ 2.4 billion.
