BAE Systems on track for 2021 targets after strong start May 19, 2021 Defence giant BAE Systems this morning said that it was on track to hit sales and earnings forecasts for 2021. The firm, a major supply to the Ministry of Defence (MoD) and other governments around the world, said that it was well positioned for growth in the coming years due to plans to increase defence [...]
BAE Systems navigates Covid turbulence as sales soar February 25, 2021 Aerospace giant BAE Systems hailed a strong full year performance this morning as sales rose by 4 per cent to £20.9bn in 2020. Operating profit edged up by £31m to £1.9bn as customers rallied for defence and security solutions. Meanwhile, statutory profit was down 11 per cent to £1.3bn. Revenue increased by £1bn to £19.3bn, [...]
Dame Carolyn Fairbairn joins BAE Systems in non-exec role February 11, 2021 City grandee Dame Carolyn Fairbairn has joined BAE Systems as a non-executive director, the defence giant announced today. Fairbairn, one of the Square Mile’s most high-profile figures, was until last year the director-general of the CBI. She has previously held non-exec roles at the CMA, Lloyds Bank, the FSA, and outsourcer Capita. Prior to that, [...]
BAE Systems lock and loads £2.4bn ammo deal November 30, 2020 Defence giant BAE Systems has today signed a £2.4bn contract to supply the UK’s armed forces with ammunition for the next 15 years. The Ministry of Defence said that the deal would support 4,000 jobs around the country over the next decade and a half. The Next Generation Munitions Solution (NGMS) will see BAE make [...]
BAE Systems set for £1.3bn boost from German Eurofighter deal November 12, 2020 Defence giant BAE Systems will receive a £1.3bn windfall from the German government’s purchase of 38 Eurofighter jets, it was confirmed today. Last week German officials announced the deal, which is worth around €5.4bn in total. The FTSE 100 company is part of an Airbus-led consortium which builds the jet fighter. The Times yesterday reported [...]
New fighter jet can support 20,000 jobs, says BAE Systems October 15, 2020 BAE Systems has said that its new fighter jet could support 20,000 jobs in the UK as it seeks to make the case for the new combat air system. The Tempest programme, which is being delivered by the FTSE 100 company alongside a consortium of defence giants, is also predicted to contribute £25.3bn to the [...]
BAE Systems posts weaker half-year profit as it predicts stronger end to 2020 July 30, 2020 BAE Systems posted weaker profit for its coronavirus-struck first half of the year today, despite an increase in revenue. The figures Profit before tax fell 11 per cent to £689m in the six months to 30 June compared to the same period in 2019. Meanwhile revenue inched up five per cent to £9.18bn year on [...]
BAE Systems warns of drop in first half profit amid coronavirus disruption June 25, 2020 BAE Systems first-half profit will be about one-sixth down on last year, after the coronavirus pandemic hit the defence giant. The company said that it still enjoyed strong demand for its defence products which make up the vast majority of its business. However, its manufacturing lines have faced disruption amid the lockdown, it said this [...]
BAE Systems sees profits rise as aircraft contracts pay off February 20, 2020 Defence giant BAE Systems posted an 18 per cent increase in profit in 2019 as the firm said work on F-35 fighter jets and its Qatar Typhoon contract would help earnings to grow by a mid-single digit percentage next year. Shares in the company had increased over 2.5 per cent by midday. The figures Operating [...]
BAE Systems to buy Collins GPS business for $2bn January 20, 2020 Leading aerospace and defence company BAE Systems has this morning announced that it will purchase Collins Aerospace’s military GPS system for almost $2bn (£1.5). BAE say that the GPS business, which is considered a market leader, should generate revenues of $359m a year in 2020, with potential for growth of 10 per cent a year. [...]