News
BAE Systems Lifts Profit Outlook on Strong Global Defense Demand and New Orders from Turkey, Norway
Britain’s largest defense company, BAE Systems, said strong demand and new orders — including Typhoon fighter jets for Turkey and Type 26 frigates for Norway — have reinforced its forecast for up to 11% growth in operating profit this year.
BAE Systems Lifts Profit Outlook on Strong Global Defense Demand and New Orders from Turkey, Norway
London, November 12 — Britain’s largest defense contractor, BAE Systems (BAES.L), said on Wednesday that robust global defense demand continues to support its profit outlook, with new contracts from Turkey and Norway strengthening expectations of up to 11% growth in operating profit this year.
The company said trading in the second half of the year has been in line with expectations, buoyed by continued order momentum. BAE Systems has so far secured more than £27 billion ($36.2 billion) in new orders and expects additional agreements before year-end.
Among the recent deals are Typhoon fighter jet orders from Turkey and Type 26 frigate contracts from Norway, underscoring strong demand for BAE’s advanced defense platforms amid heightened global security concerns.
(1 USD = 0.7451 GBP)
