Rolls-Royce profits soar 50% on strong demand for jet engines
Rolls-Royce has reported a 50% rise in half-year profits as strong demand for its jet engines and power generators for AI datacentres solidified its turnaround efforts.The British jet-engine maker said underlying operating profits climbed to £1.7bn in the first six months of 2025, from £1.1bn during the same period last year, in an earnings update that pushed the company’s shares to a fresh all-time high, and helped push the FTSE 100 share index to a new peak too.The strong half-year results meant the manufacturer, whose main operations are in Derby, was able to raise its profit forecast for the year from a range of £2.
7bn-£2.9bn to £3.1bn-£3.2bn.Rolls-Royce, which makes engines used in large Boeing and Airbus planes, said its earnings were driven in part by strong demand for its large engines business.
It has also been helped by the boom in weapons spending since Russia’s invasion of Ukraine, with Rolls-Royce a key supplier of engines for fighter jets.Its power systems business had a significant increase in interest from datacentres, which the chief executive, Tufan Erginbilgiç, confirmed was linked to the boom in artificial intelligence.Orders for datacentres rose by 85% compared with last year.The company expects a 20% increase in datacentre orders every year to 2030, having forecast annual growth of 15-17% as recently as February.The results helped propel Rolls-Royce’s shares up 10.
5% on Thursday morning to a record high of £11,085, driving the company’s valuation above £90bn for the first time,In October 2020, the first year of the Covid-19 pandemic, its share price fell below 40p,Its valuation has nearly doubled during 2025 and it is the fifth most valuable company on the London Stock Exchange,Rolls-Royce’s rally helped to power the FTSE 100 index of blue-chip shares to a record intraday high of 9,190 points on Thursday morning.
The company’s turnaround has been a triumph for Erginbilgiç, who ruffled feathers on taking over the business in 2023 by saying it was on a “burning platform”.Since then he has cut costs and pushed customers to pay more for its products through renegotiating contracts for maintaining jet engines that go on wide-body planes such as the Airbus A350 and Boeing 787.Sign up to Business TodayGet set for the working day – we'll point you to all the business news and analysis you need every morningafter newsletter promotionThe company received a recent boost from the UK government’s decision to choose it to deliver the first small modular nuclear reactors (SMRs) – factory-produced nuclear power stations that aim to cut costs.Rolls-Royce said the SMR business, which it hopes could eventually be bigger than the existing revenues, should be “profitable and free cashflow positive by 2030”, before delivery of the first SMRs a couple of years later.
Lottie Woad off the pace at Women’s Open but second round too early for TV
It might even have been a relief to the organisers of this Women’s Open that, as shadows lengthened, Lottie Woad did not blast her way towards the front of the queue. Woad may well be the name on everyone’s lips but, on day two, she will barely feature on anybody’s screens.Perhaps it is a sign of this major’s rapid growth that everyone wants more. Nonetheless, fans will find it unsatisfactory that, with daily television coverage beginning at noon, Woad – plus Nelly Korda and Lydia Ko – will play the vast majority of her second round minus the eyeballs of anyone not in attendance at Royal Porthcawl. This is now a recurring theme after Leona Maguire took to social media to point out her hole in one at the recent Evian Championship was not caught on camera
Surrey boost title hopes by besting Durham: county cricket day three – as it happened
Surrey went clear of the rest at Chester-le-Street, a three-day win against Durham that puts them in prime position to swan gracefully in and collect their fourth Championship on the trot, with just three matches left in the season. India’s tall, elegant, slow left-armer Sai Kishore did exactly what he was signed for, zinging the Kookaburra through Durham, finishing with five for 72.Meanwhile Jordan Clark gave the Overtons a run for their money by hitting younger brother Graham, who had batted very nicely for 42, on the grill with a stinging bouncer. Surrey, needing 176 for victory, had a mild wobble when they lost Ryan Patel and Rory Burns in consecutive overs, but 40 from Sam Curran set the sails fair.Things don’t look so rosy for Durham who, if Yorkshire win on Friday, have their boots in the relegation zone
‘A big shame’: Chris Woakes could miss rest of fifth Test with shoulder injury
England face playing the remainder of the fifth Test against India a bowler down after Chris Woakes injured his left shoulder while fielding on the opening day at the Oval. The 36-year-old was scheduled to have a scan on Thursday evening, with his ability to take an active part in the remainder of the game to be assessed overnight.Woakes, the only English bowler considered fit enough to play all five games of a gruelling series, was clearly in considerable pain after landing awkwardly while attempting to keep the ball away from the boundary in the 60th over of a rain-affected day. After treatment on the field he was led to the dressing room with his arm cradled in a makeshift sling.“It doesn’t look great,” said Gus Atkinson, who was the pick of England’s bowlers on his return to the team
Gambhir’s India can’t escape the Fortis-verse on rain-hit day
Nothing does irony quite like Test cricket. Say what you like about the world’s most desiccated, Miss Havisham-ish team sport, out there trailing around the post-colonial world still dressed in its yellowing wedding dress. It’s definitely got a sense of humour.On day one of the fifth England-India Test this was expressed in cosmic terms, and a single bold and improbable dramatic arc. Talk about groundsmen a lot
Gus Atkinson throws down gauntlet to India before England’s Woakes blow
Welcome to England, India. Or at least, welcome to the England their batters might have expected when touching down at the start of June. Cloud cover, stoppages for rain, and seamers operating on a green-tinged surface — the opening day at the Oval was certainly a far cry from what came before.And yet by the time stumps came at 7.30pm the tourists had scrapped their way to a serviceable 204 for six from 64 overs and it was England who were feeling a bit glum
England v India: fifth men’s cricket Test, day one – as it happened
Righto, that’s us done for today. Ali Martin’s report will be in here and on-site shortly, so do check back for that, but otherwise, thanks all for your company and comments, sorry I couldn’t use them all, and see you tomorrow, headbands donned, for Thorpey Day. On which point, we’ll get into it again then, but as below, if anyone needs an ear a chat or a mate, you know my email. Peace out, people.It might not seem this way, but there’s loads of mileage left in this match yet
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