Rolls-Royce Lifts Outlook Amid Higher Demand for Jet Engines

Rolls-Royce Holdings Plc raised its outlook for the year as the UK aircraft engine maker benefits from its savings program and strong demand, causing its stock to surge to a record.

Underlying operating profit will be £3.1 billion to £3.2 billion, up from a previous target of as much as £2.9 billion, Rolls-Royce said on Thursday. Free cash flow is now set to be as much as £3.1 billion, also an improvement from its previous goal of as much as £2.9 billion, the company said.