10th May 2018 11:15
LONDON (Alliance News) - Defence company BAE Systems PLC said Thursday that its outlook remains unchanged, with 2018 underlying earnings per share expected to be in line with 2017.
In its annual general meeting statement, BAE said it has good prospects for the coming months across its international portfolio. In the UK, it expects the government to re-affirm its priority in air and maritime, defence & security in the Modernising Defence Programme.
BAE's US business maintained its "positive momentum" and the company believes its US portfolio remains "well aligned with customer priorities". The company sees "greater near-term certainty and support" to its "medium term planning assumptions". It also said production is "ramping up" on a number of long-term programmes in its Electronic Systems division - where combat vehicles and weapons systems and ship repair volumes are on track to exceed 2017.
Discussions to finalise the financing conditions within the contract signed with Qatar on in late 2017 are "progressing".
In Australia, BAE has secured a 10-year Jindalee Operational Radar Network upgrade programme contract. It expects the decision on the preferred tender for the Commonwealth's nine-ship SEA 5000 Future Frigate programme by half year.
Chief Executive Charles Woodburn said: "We have a large order backlog and strong franchises with good prospects to further these positions in the coming months. The new organisation structure is now established to drive our strategic priorities to deliver both in year targets and to provide a solid foundation for medium term growth."
Shares in BAE were up slightly at 614.60 pence each Thursday.
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