Results announced by the firm on Wednesday show that trading for the first four months of the year were "consistent with expectations" boosted by £407m of orders for mine-protected vehicles.

It said that job cuts at its bases in Woodford, Greater Manchester and Brough, near Hull, would not impact the firm's financial performance.

BAE shareholders were meeting for the company's annual general meeting in central London on Wednesday.

The statement said: "A reduction in the UK military aircraft workforce is to be undertaken to reflect anticipated changes in the nature of the workload in that sector; the resultant costs will not impact our outlook for the year.

"For the group as a whole, a further year of good growth is anticipated for 2008."

The statement added that the company's board's nominations committee is continuing to look for "suitable candidates" to replace chief executive Mike Turner, who is due to step down from the helm of the company in August.

It also said that the findings of a review into the companies ethical policies, led by former Lord Chief Justice Lord Woolf and announced on Tuesday, would be "evaluated and acted upon".

BAE employs more than 10,000 people at its fighter jet-building factories in Warton and Samlesbury, near Preston.

>> BAE given ethical standards road map

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