BAE holds guidance, sees growth from global tensions

12th Nov 2024 07:48

(Sharecast News) - UK arms maker BAE Systems held annual guidance adding that its order book reflected demand from governments for weaponry amid increasing global tensions.

The company on Tuesday said it expected to hit its upgraded underlying operating earnings growth target of 12 -14% this year on 2023's £2.7bn.

"In the US, we continue to see bipartisan support for defence and national security. Our portfolio remains well-aligned with the key priorities outlined in the US National Defense Strategy and US Intelligence Strategy and we continue to see growth opportunities in this market across the medium term," BAE said in a trading update.

"Beyond the US and UK, our geographic footprint is a differentiator as we support government customers across Europe, the Middle East and Asia Pacific. Our key markets in these regions are poised for higher defence spending which will provide a platform for diversified growth into the future for the group."

Reporting by Frank Prenesti for Sharecast.com