BAE Systems posts soaring profits in 2015

BAE Systems has released its full year financial results for 2015 and has seen sales and profits soar.

The company, which employs around 13,000 people within its Military Air and Information business across 30 locations, including Warton and Samlesbury, saw 2015 operating profits rise from £1.3bn to £1.5bn as sales climbed 7.6 per cent to £17.9bn.

Ian King, chief executive, said: “We have delivered another year of solid performance. BAE Systems has a large order backlog generated by a well-balanced portfolio of businesses serving the needs of customers in many of the world’s larger accessible markets.

Chris Boardman, BAE Systems Military Air and Information's managing director, said: “Throughout 2015 we have continued to deliver on all our major programmes and welcome the commitment made in the UK Government’s Strategic Defence and Security Review which included future investment in Typhoon’s capabilities and an extension of the aircraft’s expected service life to 2040. "Through a series of contracts we are maturing capability enhancements for Typhoon which, along with making the aircraft more competitively priced, will further strengthen prospects for Typhoon in the international market. Our focus has been, and will remain, on securing further orders in what continues to be a challenging environment."