Rolls-Royce Jumps Most Since 2002 After East’s Profit Surprise

  • Shares surge close to 20 percent as CEO’s cuts take effect
  • Aero-engine giant’s earnings still 76% down on a year earlier

Rolls-Royce Holdings Plc surged after the aircraft-engine maker dogged by a succession of earnings shocks in recent years posted a first-half profit that beat estimates as Chief Executive Officer Warren East’s savings program kicks in.

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