The British engineering company Rolls-Royce’s share price (LON: RR) made a strong jump on Thursday after the company reported upbeat annual financial results. RR share price closed yesterday’s trading session with a 20% gain in the markets and resumed a strong bullish trend Friday, gaining another 6% during the European session.
Rolls-Royce, known for its plane engines, which makes engines for Airbus A350, and Boeing 787 planes posted an operating profit of £652 million (US$786.4 million) for 2022. The company also noted that large engine flying hours were at 65% of 2019 levels, having increased towards the end of 2022 as China reopened.
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