Defence giant BAE Systems today reported a sales boost, thanks to countries increasing military spending as the Russian war in Ukraine rumbles on.
The FTSE 100-listed company said that many of the countries it operates in have either announced increases in defence spending, or are making plans to lift spending “to address the elevated threat environment”.
Charles Woodburn, BAE’s chief executive, said: “Looking forward, our large order backlog, diverse portfolio position and focus on programme performance position us well for another year of top-line growth and margin expansion in 2023.
“We see sales growth coming from all sectors and opportunities to further enhance the medium-term outlook as our customers address the elevated threat environment.”
Leave a Comment