Announcing this morning that its sales are up nine per cent so far this year, BAE Systems claims its “robust and resilient global business is well positioned for long term growth.”
Announcing this morning that its sales are up nine per cent so far this year, BAE Systems claims its “robust and resilient global business is well positioned for long term growth.”
The British aerospace and defence giant’s half yearly reports show global revenues have increased to £10.6bn. Profits before tax are up 14% to £1.1bn and earnings per share are up by the same percentage to 20.4p.
The company pointed to its broad base afforded by its seven ‘home’ nations of the UK, Australia, Saudi Arabia, South Africa, Sweden, the US and, most recently added, India. It says it has particularly good prospects of growing its business in Saudi Arabia, Australia and India. It describes the UK’s 20% share of sales as ‘sustainable’.
In terms of products the company said it in a strong position in customer support and cyber and security services. It expects growth within its high technology electronics business and says the outlook for tactical combat aircraft remains strong across the Typhoon and F-35 programmes.
“This is another good set of results demonstrating that BAE Systems continues to perform well,” said BAE chief executive Ian King. “We see good opportunities for sustainable growth within the Group including building on our seven home markets and our substantial presence in customer support and services. We have a proven track record of delivering reduced costs and enhanced capability for our customers and expect to continue to drive performance from our large order book.”
Howard Wheeldon says the results are impressive and BAE has shown that it is set up to flourish through its diversity and forward thinking. Click here to read his blog.
