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BAE Systems profit to equity shareholders rose to 1.00 billion pounds

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Staff Writer | Thursday February 21, 2019 6:35AM ET
BAE Systems
BAE Systems   Basic earnings per share were 31.3 pence

BAE Systems reported Thursday that its fiscal 2018 profit to equity shareholders rose to 1.00 billion pounds from a restated 827 million pounds in the prior year.


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Basic earnings per share were 31.3 pence, up from 26.0 pence last year.

Underlying EBITA for the year declined to 1.93 billion pounds from 1.97 billion pounds in the prior year and includes an adverse exchange translation impact of 34 million pounds.

However, underlying earnings per share increased by 2 percent to 42.9 pence from 42.1 pence a year ago.

IFRS revenue for the year was 16.82 billion pounds, compared to a restated 17.22 billion pounds in the prior year.

Revenue declined 1 percent on a constant currency basis.

Sales decreased to 18.41 billion pounds from a restated 18.49 billion pounds in the prior year, as the expected reduction in Typhoon production activity was largely offset by growth in the U.S. businesses.

Order intake increased by 8.0 billion pounds to 28.3 billion pounds, while order backlog increased by 9.7 billion pounds to 48.4 billion pounds following this year's record order intake.

For the year ending 31 December 2019, the Group's underlying earnings per share is expected to grow by mid-single digit compared to the full-year underlying earnings per share in 2018 of 42.9 pence, assuming a US$1.30 to sterling exchange rate.

The Board has recommended a final dividend of 13.2 pence per share for a total of 22.2 pence per share for the year.

Subject to shareholder approval at the May 2019 Annual General Meeting, the dividend will be paid on 3 June 2019 to holders of ordinary shares registered on 23 April 2019.

 

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