BAE boosted by strong orders

The price of shares in FTSE 100 defence and aerospace firm BAE Systems (LON:BA.) climbed by 2.50% to 475.20p (as of 10:20 GMT) as order intake exceeded pre-Covid planning. Management said that underlying earnings per share would be ahead of prior guidance with strong operational performance offsetting negative forex impacts.

CEO Charles Woodburn commented: “We have continued to deliver a resilient performance in line with our expectations for a strong second half, thanks to the outstanding efforts of our employees in these challenging times. From a position of strength, the actions we took in quarter two to enhance our resilience are working well as reflected in our guidance, ensuring we continue to deliver on our customer priorities, whilst keeping our employees safe. Demand for our capabilities remains high and we recognise our role not only in supporting national security, but also in contributing to the economies of the countries in which we operate“.