BAE Systems has booked a record £66 billion in orders to supply weapons and military services to countries re-arming themselves in response to the war in Ukraine.
The FTSE 100 defence giant upgraded its profit forecast as it beat City expectations and the board announced plans for a share buyback worth £1.5 billion.
The defence group, which builds Typhoon jets, nuclear submarines and supplies ammunition for the British military, told investors its earnings per share would now grow by 12 per cent this year, compared with previous guidance of up to 7 per cent. The company’s shares rose 5 per cent, or 46p, to 979p.
Charles Woodburn, BAE’s chief executive, said preparations for a new weapons base in Ukraine were “progressing” and that the company
© Times Media Limited 2023.