BAE profits soar on Iraq conflict

Work to re-equip UK and US troops in Iraq and Afghanistan has helped profits to soar at defence group BAE Systems.

The UK’s largest defence firm, BAE made a pre-tax profit of £657m ($1.4bn), compared with £378m a year earlier.

BAE said the “high tempo” of UK and US military operations was increasing demand for land systems to support armed forces overseas.

BAE, which is facing an anti-corruption probe by US authorities, saw its half-year revenues rise by 10%.

The firm said its sales had benefited from its US operations, which achieved organic sales growth of 12% during the period.

Overall sales at BAE’s Land & Armaments business, which includes everything from tanks to munitions, rose 43%.

BBC NEWS | Business | BAE profits soar on Iraq conflict

Advertisements

Comments are closed.

%d bloggers like this: