BAE share price: H1 results released

on Jul 30, 2015
Updated: Oct 21, 2019

BAE Systems Plc (LON:BA) today updated investors with half-yearly results for the six months through June 30. Following are the highlights from the company’s statement.

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Ian King, Chief Executive, said
“Overall, the business performed well during the first half of 2015 during which we have leveraged our capabilities in adjacent growth markets and maintained disciplined cost control. We have also continued to invest in developing skills and new technologies for the future. These actions have provided resilience through an extended period of reduced defence spending in some key markets and ensured that BAE Systems is well positioned to benefit from a generally improving market environment.”

– Sales1 increased by £0.9bn including incremental equipment sales of £0.3bn on European Typhoon Tranche 3 aircraft and favourable exchange translation of approximately £0.2bn
– Underlying EBITA2 of £800m after favourable exchange translation of £21m
– Underlying earnings3 per share of 17.1p reflecting a higher finance charge
– Large order backlog1,5 of £37.3bn providing good visibility of future sales
– Interim dividend increased by 2% to 8.4p per share
With an anticipated trading bias to the second half of the year, the Group remains on track to deliver sales1 growth and continues to expect underlying earnings3 per share for 2015 to be marginally higher than in 2014, despite the lack of earnings accretion from share repurchases. This earnings guidance remains conditional upon anticipated aircraft orders and a review of options for the Melbourne shipyard facility, and assumes an average exchange rate of $1.55/£.
**More to follow…**
As of 07:19 BST, Thursday, 30 July, BAE Systems plc share price is 469.60p.


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