FInlay Mathers of Edison Group discusses Rolls-Royce which, under new management, met all its turnaround targets two years early and confounded investors' attitudes towards its business, comprising civil aviation, aerospace and power systems. The shares are above the industry average but it's a fantastic business whose air business has a "power by the hour" model linking it to the upturn in global air travel, while its defence order book is up by 89%. The future may be bumpy, but the business is very sound.

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