BAE Systems, the British multinational defence, security, and aerospace company, announced impressive financial results for the first half of 2023.
The company reported significant growth across key financial areas, citing an uptick in sales and an increased backlog of orders.
In layman’s terms, a backlog of orders refers to the work that has been requested but has yet to be completed. For BAE Systems, this figure hit a record high of £66.2 billion, indicating strong future work commitments and confidence from its customers.
The company’s sales, the amount of revenue generated from goods or services, increased by 11% compared to the same period in 2022, reaching £12.0 billion. Essentially, this means that BAE Systems sold more of its products and services than in the same time frame last year.
Further growth was seen in its EBIT (Earnings Before Interest and Taxes), a measure of the company’s earnings that essentially demonstrates how much profit it has made. The EBIT was up by 10%, reaching £1.3 billion, indicating that the company is operating more profitably.
BAE Systems has also rewarded its shareholders by declaring an interim dividend, a portion of the company’s earnings paid out to its owners, of 11.5p per share, an increase of 11% compared to 2022. This means that people who own shares in the company will receive more money back than they did last year.
The company also made significant headway with its share buyback program, which allows it to repurchase its own shares from the marketplace. This is typically a sign that a company believes its shares are undervalued and can be a way to return money to shareholders. Since June, BAE Systems has bought back 123.5 million of its own shares, spending a total of £1.0 billion.
Great that BAE has a secure work pipeline with lots of forward and ongoing orders.
Well done Bae. Work coming from all over the planet. Just what we need.
Hope it keeps up well done BAE 🇬🇧 💰💰💰😀
I know a few on here don’t like BAE but I have to say they come out with some fantastic products for the UK and others so nice to see more going on.
War is good for business. Let’s not forget, the violence inflicted upon the civilians of Yemen. A high percentage of the systems that inflict this violence have come from systems designed and manufactured by BAE. Just think about that before you congratulate them.
So I take it Russia doesn’t make weapons then? Please try not to be a Russian bum boy all your life it isn’t worth it, try reading other things instead of russian propaganda piss 👍
Thanks for advice fellow “Bum Boy”.
Apologies should have read Putin bum boy, don’t think most normal russian people want this idiotic war.
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Never great when conflicts occur anywhere but it must be pointed out that those weapons are being used in support if the UN supported Govt while the opposition is fundamentally supplied by Iran for its own and indeed a Russian interests. That is at least some greater defensibility than that offered by Russia in its unwavering support of Syria which is not fundamentally or universally UN endorsed but which Russia trumps as support for the legally existing Govt. Can’t at the very least have it both ways as much as Russia tries. Indeed Russias arguments for supporting Syria would by definition allow Western Countries to enter Ukraine to defend it. But yes Hypocrisy takes precedence at every turn sadly.
There would never have been a war without the weapon supplied to the Houthis in the first instance, BAe didn’t supply those neither did any other Western country. Secondly if a country wants to buy weapons it will, there’s dubious moral high ground in not supplying weapons which you can lobby for an element of control over there use against letting another country supply them (cough China) which would allow unfettered use. I’d be far more concerned about defence companies in unscrupulous countries making profits than BAe and any campaigns should prioritised against these.
BAE follow the dollar, not morals.
How about the Iranian weapons being supplied to the Houthis? , without the Houthi uprising the Yemeni war would not be happening
War is always good for business, look at the arms and weapons Russia has also sold around the world since the 50s. Do stop trying to deflect reality onto your opinion and agenda.
If Russia really wanted to piss off the UK, why doesn’t it supply Argentina with Su35s?
Because China has got their first! Bloody hell your knowledge is so limited!
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We should privatise the MoD and let BAE sort the defence of the realm. It would be far cheaper in the long run to give them the £50 billion defence budget and let them get on with it
BAE is the MOD. Has been since the 70s.
Nope, British Airspace was fully privatised in 1985. There was 50% sell of in 1981. BAE didn’t come along until 1999
Congratulations if you are a BAE shareholder. Commiserations to UK taxpayers, for funding war. Commiserations if you are an innocent on the receiving end of BAE manufactured kit.
Long live conflict, long live war, long live my shares in BAE. 🙂
No mention of the trouble with the Prince of Wales?
It should do it gets half of th armed forces budget in one way or another.