BAE Systems Lifts Profit Growth View to 10%-12% as First-Half Sales Reach £15.8 Billion
Updated
Updated · The Guardian · Jul 30
BAE Systems Lifts Profit Growth View to 10%-12% as First-Half Sales Reach £15.8 Billion
3 articles · Updated · The Guardian · Jul 30
Summary
BAE raised its full-year profit growth forecast to 10%-12%, up from 9%-11%, after reporting stronger first-half trading.
Sales climbed 9% year on year to £15.8 billion, while orders reached £16.4 billion—£3.2 billion above the same period last year.
Global defence budget increases drove demand, with BAE benefiting from US spending, Gulf export markets and a volatile security backdrop, Chief Executive Charles Woodburn said.
The company said it has expanded factories in Texas and New Hampshire to support a US push to quadruple critical munitions output.
BAE shares rose 1.1% and helped lift the FTSE 100, while the group also used last week's Farnborough air show to unveil its Brontanax autonomous 'loyal wingman' drone.