First-half results from aircraft engine maker Rolls-Royce (RR.) on 3 August will be an opportunity for its new boss Tufan Erginbilgic to add to this week's positive trading update that demonstrated that his tough talk around reviving the fortunes of the company is yielding early results.

Erginbilgic was certainly in no mood to sugar coat the company’s problems when he started his tenure in January 2023, describing the business as a ‘burning platform’ in an address to staff.

The former BP (BP.) man poached some of his ex-colleagues from the oil company to help lead the transformation process at Rolls-Royce – Nicola Grady-Smith as chief transformation officer and Helen McCabe as chief financial officer.

While the shares had stalled in recent months, after Erginbilgic’s initial rhetoric drove a big rerating at the start of the year, a big jump on 26 July in the wake of the trading update, means Rolls remains one of the best performing FTSE 100 stocks year-to-date, up more than 80%.

Rolls-Royce is reliant on lucrative spares and repairs revenue on an installed base of aircraft engines. This revenue stream is directly linked to the number of hours planes are in the air. Areas of focus when the company reports will include engine flight hours and cash flow – an area where Rolls was underperforming even before the pandemic.

Investors may also be looking for a flavour of the wider strategic direction in which Erginbilgic intends to take the company – including potential disposals of businesses which are not delivering strong enough returns.

UK UPDATES OVER THE NEXT 7 DAYS

FULL-YEAR RESULTS

1 August: Filtronic

2 August: The Works

HALF-YEAR RESULTS

28 July: AstraZeneca, IMI, Intertek, NatWest, Rightmove

31 July: Haleon, Hutchmed, Quartix Technologies, Spectris

1 August: Domino’s Pizza, Fresnillo, Greggs, Robert Walters, Staffline, Travis Perkins

2 August:  Convatec, Endeavour Mining, Ferrexpo, Haleon, IP Group, Man Group, Smurfit Kappa, Spirent Communications

3 August: Helios Towers, Hikma Pharmaceuticals, London Stock Exchange, Mears, Morgan Sindall, Quilter, Rolls-Royce, Shaftesbury, Serco, Smith & Nephew

TRADING ANNOUNCEMENTS

28 July: Glencore, Paragon Banking

3 August: Next, Wizz Air

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