BAE sales fall in 'transitional year'

By Lancashire Business View

01 Aug 2018

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BAE Systems has released its half-year figures, showing decreases in orders, sales and profit, but with major deals set for the second half of 2018.

The numbers relate to trading for the six months to June 30, 2018. Order intake was £9.7bn, compared with £10.7bn for the six months to June 30, 2017.

Similarly, sales were down three per cent, from £8.8bn to £9.5bn, and operating profit declined 11 per cent to £792m.

However, the figures do not cover a number of projects due for the second half of the year, including the contract for the supply of Typhoon and Hawk aircraft to Qatar.

Charles Woodburn, the company's chief executive, said: "We have made good progress in the first half strengthening the outlook through significant wins on the Australian SEA 5000 and US Amphibious Combat Vehicle programmes.

"These wins, combined with the launch of the UK Combat Air Strategy, provide good momentum into the second half and beyond.

"Operationally, there have been some notably strong performances in our Electronic Systems and Air sectors, but also some disappointments on certain long-standing programmes in Maritime and Platforms & Services (US), where we have now taken steps to strengthen management and improve programme execution."

BAE Systems Air employs around 12,500 in the UK across sites, including Warton and Samlesbury in Lancashire. Recent successes in the air division include an initial agreement with Saudi Arabia for a further 48 Typhoon aircraft, increased production of F-35 Lightning II fuselage, and the opening of a £2.3m Training and Simulation Integration Facility at Warton.

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