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BAE Systems meets earnings forecasts

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Christian Fernsby ▼ | February 20, 2020
BAE Systems met forecasts with annual earnings growth of 7%.
BAE Systems
BAE Systems   Charles Woodburn said in a statement that he was pleased
The company’s chief executive Charles Woodburn said in a statement that he was pleased with 2019.

Topics: BAE Systems

“We delivered a good set of financial results in line with guidance, growing sales and earnings, with improved operational performance and increased investment in the business to underpin our growth outlook,” he said.

BAE has been focused on boosting performance in its combat vehicle business in the U.S., where it has some big contracts, an area where it has faced challenges.

The group also said on today it would make a 1 billion pound ($1.29 billion) one off payment into its pension scheme in the coming months, funded by debt.

Previous commitments to pay around 240 million pounds into the scheme this financial year, and 250 million pounds next year, will continue.