40:59
Shares in Rolls-Royce have surged over 122% in the past year, reaching a new peak of 1,346.50p last week. This increase has effectively doubled the value of the British engineering giant to over £112 billion.
Analysts have highlighted this growth as one of the most significant recoveries in British industrial history. Since Tufan Erginbilgic assumed the role of chief executive at the start of 2023, the company’s stock has seen a dramatic increase. When Erginbilgic took over, shares were valued at 93.2p, with the company’s worth standing at £7.9 billion.
Rolls-Royce, employing more than 22,000 people in the UK, has announced significant developments contributing to its recent success. The company secured lucrative orders worth billions for over 140 aircraft engines at the Paris Air Show. These orders have spurred further expansion, with plans to create 1,100 new jobs at its Raynesway site in Derby.
These achievements underline the strategic initiatives implemented by Rolls-Royce’s leadership aimed at revitalising the company’s operations and financial standing. The expansion and new job creation are expected to bolster Rolls-Royce’s position as a leader in the engineering sector.
The company continues to focus on innovation and growth, planning to harness new opportunities in the industry. This latest milestone underscores the company’s commitment to securing a strong foothold in the global manufacturing arena.
View more news from Stuart Whitehead
