Britain's Rolls-Royce is holding steady on its annual profit growth guidance of at least 30% this year, fueled by increased flight activity among airline customers and rising demand for power in data systems and defense equipment. Despite continued supply chain issues in aerospace, which the company estimates will add between £150 million and £200 million in costs this year, CEO Tufan Erginbilgic expressed confidence in achieving the 2024 targets. Rolls-Royce’s resilience highlights the strength in its core markets, with its engines powering Airbus’s widebody aircraft and Boeing’s 787, along with a diverse portfolio that includes powering ships, submarines, and energy systems.

For 2024, Rolls-Royce forecasts underlying operating profits of between £2.1 billion and £2.3 billion. Earlier this year, the company raised its outlook and reinstated dividends, marking a significant turnaround after the pandemic's impact left it struggling for survival. Under Erginbilgic’s leadership since January 2023, Rolls-Royce shares have soared 487%, signaling investor confidence in the company’s renewed trajectory and its positioning for long-term growth.