Strong Financial Performance
Operating profit of GBP 1.7 billion, a 50% increase from last year. Free cash flow was GBP 1.6 billion, 37% higher than the previous year. Group revenue grew by 13% to GBP 9.1 billion.
Civil Aerospace Success
Civil Aerospace's operating profit grew by 63% to GBP 1.2 billion. Operating margin increased by 7.1 percentage points to 24.9%. Aftermarket revenue for large engines grew by 28%.
Power Systems and Defence Growth
Power Systems' operating profit increased by 89%, with a 5.6 percentage point rise in operating margin to 15.3%. Defence recorded an order backlog of GBP 18.8 billion, a record level.
Strategic Initiatives and Investments
GBP 1 billion share buyback progressing with GBP 500 million completed. Interim dividend declared at 4.5p per share. Significant progress in renegotiating contracts, leading to GBP 1.4 billion cash benefits over contract life.
Guidance Upgrade
Raised 2025 guidance for underlying operating profit to GBP 3.1 billion to GBP 3.2 billion and free cash flow to GBP 3 billion to GBP 3.1 billion.