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Rolls-Royce PLC reported its 2023 results that outperformed expectations. Revenues grew 21% year over year to £15.4 billion with adjusted operating profit of £1.6 billion. Each of the three divisions were above expectations as the company continues its recovery from its pandemic-induced downturn. The performance reduced the net debt/EBITDA ratio to approximately 1:1, but the company will not resume shareholder payments until it has returned to an investment grade rating.
