BAE reports sales boost

29 July 2010

BAE Systems’ latest results show a sales increase of nine per cent to £10.6bn and a corresponding percentage point rise in the dividend to 7p.

Other highlights include underlying EBITA up 14 per cent to £1,114m and underlying earnings per share up 14 per cent to 20.4p.

The company said in a statement that it is well placed, with a broad market base in seven home markets, and that it is set to continue trading well in the US.

Looking forward, the defence giant added that it expects to witness growth from its high technology electronics business and that there is good prospective activity in selective export markets. Today’s results also underpin the outlook for continued growth in 2010.

‘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,’ said Ian King, chief executive, BAE Systems. ‘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.’