Profits up at BAE Systems

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Defence giant BAE Systems today reported rising annual profits.

The company, which employs around 10,000 people in Lancashire, said 2015 operating profits rose from £1.3bn to £1.5bn

Sales climbed to £17.9bn, from £16.6bn.

Ian King, Chief Executive, said: “We have delivered another year of solid performance. BAE Systems has a large order backlog generated by a well-balanced portfolio of businesses serving the needs of customers in many of the world’s larger accessible markets.

“The Group is well placed to continue to generate attractive returns for shareholders as defence budgets recover and our commercial adjacencies of cyber and commercial electronics continue to grow.”

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