ARLINGTON (dpa-AFX) - BAE Systems Plc (BA.L), a provider of defense, aerospace, and security solutions, reported Wednesday higher profit ans revenues in its first half, while order intake declined from last year.
Looking ahead, for fiscal 2025, the company continues to expect underlying earnings per share to increase in the range of 8 percent to 10 percent from last year's 68.5 pence.
Further, the firm upgraded sales and underlying EBIT guidance by 100 basis points each, citing the strong operational performance in the first half.
Sales are now expected to increase in the range of 8 percent to 10 percent and underlying EBIT is expected to increase in the range of 9 percent to 11 percent.
The company previously expected sales to increase in the range of 7 percent to 9 percent, and underlying EBIT to increase in the range of 8 percent to 10 percent.
In the first half, profit before tax grew to 1.189 billion pounds from last year's 1.163 billion pounds. Basic earnings per share improved 3 percent to 32.3 pence from 31.4 pence last year.
Underlying profit before tax was 1.347 billion pounds, compared to prior year's 1.213 billion pounds. Underlying earnings per share were 34.7 pence, compared to 31.4 pence last year.
Underlying earnings before interest and tax or EBIT was 1.55 billion pounds, up 13 percent from last year.
Revenue increased 9 percent to 13.57 billion pounds from 12.48 billion pounds last year. Underlying sales were 14.62 billion pounds, a growth of 11 percent from 13.40 billion pounds a year ago, with all sectors contributing growth. Organic growth was 9 percent.
Order intake, meanwhile, dropped to 13.2 billion pounds from prior year's 15.1 billion pounds.
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