19th Apr 2007 07:00
BAE SYSTEMS PLC18 April 2007 BAE Systems plc - restatement of reporting sectors 19 April 2007 BAE Systems is to re-align its externally reported sectors following the changesmade to the Group's organisational structure that became effective from 1January 2007. The Group has previously reported its trading performance throughfive business groups: Electronics, Intelligence and Support; Land & Armaments;Programmes; Customer Solutions & Support; and Integrated Systems & Partnerships.In addition HQ & Other Businesses are reported separately. The re-alignmentof external reporting to the new organisation structure will now result in theGroup reporting through four operating business groups together with the HQ &Other Businesses grouping. The Electronics, Intelligence & Support and Land & Armaments business groupsremain unchanged. With the increased focus by the UK MoD of procuring capability throughout thelifecycle of a system the Group is integrating its UK air and naval platformprogramme activities with their respective UK support activities previouslyreported in the Customer Solutions & Support business group. The resultingorganisation will now be reported through a new Programmes & Support businessgroup. The Integrated System Technologies (Insyte) and Underwater Systemsbusinesses, previously reported within Integrated Systems & Partnerships, willalso be reported within this new business group. Reflecting the Group's position in other home markets outside the US and UK theGroup's business operations in Australia and the Kingdom of Saudi Arabia will bereported through a new International Businesses business group, together withthe Group's interests in Saab and MBDA, previously reported within IntegratedSystems & Partnerships. The following tables detail the financial restatements, for sales and EBITA, forthe 2006 first half and the 2006 full year. Table 1 Sectors as previously reported 2006 Full Year 2006 Half Year Sales EBITA Sales EBITA £m £m £m £mElectronics Intelligence & Support 4,007 429 2,090 260Land & Armaments 2,115 168 892 76Programmes 2,927 167 1,186 57Customer Solutions & Support 3,180 477 1,462 215Integrated Systems & Partnerships 1,748 113 798 57HQ and Other Businesses 295 (147) 178 (65)Intra group (507) (230) Total - Continuing Operations 13,765 1,207 6,376 600 Table 2 Restatement to new sectors 2006 Full Year 2006 Half Year Sales EBITA Sales EBITA £m £m £m £mElectronics, Intelligence & Support 4,007 429 2,090 260Land & Armaments 2,115 168 892 76Programmes & Support 4,615 342 2,018 153International Businesses 3,428 415 1,545 176HQ & Other Businesses 295 (147) 178 (65)Intra group (695) (347) Total - Continuing Operations 13,765 1,207 6,376 600 Issued by: BAE Systems plc London This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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