BAE Systems is a British multinational defence, aerospace, and security company. One of the largest defence companies in the world, it is a key supplier to the UK’s Ministry of Defence and the US’s Department of Defense. It is listed on the London Stock Exchange and currently has a market capitalisation of £16.3 billion.
Solid H1 Results
BAE Systems issued a solid set of half-year results at the end of July, considering the current economic environment. For the period, sales rose 5% to £9,871 million, while underlying earnings per share decreased 15% to 18.7p. Order intake increased 11% to £9,339 million. Meanwhile, the group declared a dividend of 9.4p per share – the same payout as last year. Charles Woodburn, CEO, said: "We have delivered a robust performance in the first half of the year. 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."
Source: 2iQ Research
