Earnings beat estimates as new CEO says company has underperformed for years
Rolls-Royce surged the most in more than two years after new CEO Tufan Erginbilgic embarked on a strategic review, saying the UK engineering firm has underperformed financially for years.
The stock jumped as much as 20%, the most since November 2020. Rolls-Royce also reported earnings that beat estimates, with adjusted operating income coming in at £652m for 2022, above the £489m analyst estimate. The company predicted adjusted operating profit of £800m to £1bn this year, with free cash flow of as much as £800m...
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Budget 2023: CEOs of top food retailers want government to rethink diesel fuel levy refundPick n Pay CEO Pieter Boone, Spar CEO Mike Bosman and Shoprite Checkers CEO Pieter Engelbrecht have implored the government to reconsider its decision on the diesel fuel refund levy.
Read more »
Locusts and Transnet a plague on KumbaTransnet’s poor service cost Kumba Iron Ore R10bn in earnings last year
Read more »
Kenya’s tourism industry bounces back as earnings rise 83%The US was the main source of visitors during the year, followed by Uganda, Britain and Tanzania.
Read more »
Gold Fields annual earnings boosted by cancelled dealPrecious metals miner receives $300 termination fee after failed Yamana Gold bid that also led to the CEO’s departure
Read more »
Think smart, use what you have to make extra cashThe tough economic times and increasing interest rates, food and fuel prices call for one to have a side hustle.
Read more »