Weapons maker’s full-year pre-tax profits top £3bn and it expects sales of more than £30bn next yearBritain’s biggest weapons manufacturer, BAE Systems, has reported record orders as the European defence industry gears up for increased spending sparked by the Ukraine war.The company, a member of the FTSE 100, said it expected sales next year to top £30bn, as it reported annual profits before interest and tax of more than £3bn for the first time in 2024. Continue reading...
BAE Systems reported record orders due to rising European defense spending, driven by the Ukraine war. The company anticipates further growth as Europe and the UK adjust to potential US defense withdrawal. BAE is involved in collaborative projects, including the Global Combat Air Programme, and supports increased European fighter jet manufacturing collaboration.
