BAE Systems 2019 Profit, Sales Rose
By Matteo Castia
BAE Systems PLC said Thursday that pretax profit rose for 2019
and that it met its earnings per share guidance for the year.
The U.K. defense-and-aerospace group made a pretax profit of
1.63 billion pounds ($2.11 billion) for the year, compared with
GBP1.22 billion in 2018. Sales rose to GBP20.11 billion, from
GBP18.41 billion a year earlier.
Net profit was GBP1.48 billion, the company added, up from
GBP1.00 billion the previous year.
The company also said that it met its guidance for
mid-single-digit growth in earnings per share, with a figure of
45.8 pence against 42.9 pence the prior year.
The board has declared a 13.8 pence final dividend, raising the
yearly payout 4.5% to 23.2 pence.
BAE Systems said it expects earnings per share to grow by a
mid-single digit in 2020.
The company said that in the U.S. it has maintained funding
support for many key programs thanks to the 2020 governmental
military spending. This includes combat vehicles, F-35s, electronic
warfare programs, and current and future precision weapons
"We have a large order backlog and remain focused on strong
program performance to deliver a sustainable business model with
enhanced financial performance," Chief Executive Charles Woodburn
Write to Matteo Castia at email@example.com
(END) Dow Jones Newswires
February 20, 2020 02:46 ET (07:46 GMT)
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