BAE posts half-year results

BAE Systems has posted improved revenues for the six months to June 30.

The group recorded £9.871bn sales revenue in the first half of 2020, compared with £9.416bn for the first half of 2019.

But EBITDA decreased - £895m compared to £999m - which saw underlying earnings per share dip from 21.9p to 18.7p.

Chief executive Charles Woodburn, however, predicted a bright future. He said: "We have delivered a robust performance in the first half of the year, thanks to the efforts of all of our employees. We started the year from a strong position and we have taken actions to enhance our resilience, ensuring we continued to deliver against our customer priorities, whilst keeping our employees safe.

"Assuming no significant COVID-19 resurgence, we expect a good second half to the year. Demand for our capabilities remains high and we recognise our role not only in supporting national security, but also in contributing to the economies of the countries in which we operate."

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