Record orders at BAE Systems as European defence spending rises
Weapons maker’s full-year pre-tax profits top £3bn and it expects sales of more than £30bn next year
Britain’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.
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