British weapons manufacturer secures £25bn in orders as military spending surges

645     0
British weapons manufacturer secures £25bn in orders as military spending surges
British weapons manufacturer secures £25bn in orders as military spending surges

British defence giant BAE Systems has a total orders bill worth more than £25bn for this financial year alone. 

The FTSE 100 firm had orders worth £15bn just six months ago, but the earnings of global defence firms have sky-rocketed in response to the conflicts in the Middle East and Ukraine, as well as the prospect (and now reality) of a second Trump presidency. 

Around 90% of the company’s revenue target has already been met for this calendar year.

Shares in the firm have grown by more than 115% since the invasion of Ukraine in 2022. 

Chief executive Charles Woodburn said: "Focusing on operational excellence, contracting discipline and growing our workforce is enabling us to consistently deliver critical capabilities and technologies for our customers worldwide.

"At the same time, we continue to invest in our business for the long term, which together with our broad geographic and domain diversity, positions us well for continued growth in the years ahead."

David Wilson

Weapons, Defence, FTSE, BAE Systems plc

Read more similar news:

08.03.2023, 15:50 • News
UFO expert 'solves UK's biggest alien mystery' that had best-ever photo evidence
13.03.2023, 20:26 • Politics
Britain could DOUBLE number of nuclear subs under new pact with US and Australia
14.03.2023, 11:25 • Politics
China blasts UK, US and Australia for fuelling 'arms race' with submarine pact
21.06.2023, 16:49 • Politics
Royal Navy aircraft carrier repair bill rises to £25m - and you're going to pay
10.07.2023, 21:30 • Politics
Sunak orders new artillery shells and urges NATO chiefs to spend more on defence
15.08.2023, 16:00 • Politics
UK ammunition production surge will take two years, Tories forced to admit
02.10.2023, 15:48 • Politics
Top Tory attacks 'woke' bankers as he brands UK arms industry 'power for good'
20.10.2023, 13:00 • Politics
Red Arrows displays grounded four times in two years by faults in ageing jets
10.11.2023, 09:24 • Crime
Hundreds of protesters go to weapons factory calling to 'stop arming Israel'
14.11.2023, 16:11 • Politics
All Royal Navy attack submarines in port at same time was 'embarrassing'