Earnings down at BAE

Defence giant BAE Systems has revealed that earnings for the first six months of 2013 were down by around 6% to £865m.

bae.gifHowever the company, which employs around 11,000 staff at Samlesbury and Warton, did increase sales to £8.45bn and its order backlog to £43.1bn.

Ian King, chief executive of BAE Systems, said: "This is a challenging environment but we continue to take the necessary actions to manage the business for the benefit of both our customers and our shareholders.

"We have received £4.8bn of orders outside the UK and US in the first six months, a continued sign of the momentum in international activity. We also see increasing cyber opportunities, particularly in the civil area.”

Chris Boardman, managing director of the Military Air and Information division, added: “On the back of the orders from the Kingdom of Saudi Arabia and Sultanate of Oman last year there is a renewed spirit of optimism in the business and a real focus on doing all we can do to secure more export orders.

“We have several on-going campaigns for both Typhoon and Hawk and with each we have the support of the UK government which is crucial if we are going to be successful.

“The Sultanate of Oman order for 12 Typhoon and eight Hawk aircraft helps sustain thousands of jobs in the region gives us a stable base to build from and fits in with our strategy to make MAI a truly international business.

“We are continuing to support the Enterprise Zone activity at Warton, Samlesbury and in Brough, which has already helped provide employment opportunities in the area and in the future will create many more jobs. “It’s testament to all our staff that we have managed to deliver on our commitments throughout this difficult period and managed to secure export orders.”