BAE powers on despite job cuts
BAE Systems says it has continued to progress well in the first five months of the year, building on its performance in 2007 and with the group's large order book “providing excellent forward visibility”.
In an interim management statement, the defence giant said additional order intake of approximately $0.8bn (£0.4bn) received in the period for mine protected vehicles, had further enhanced the near term outlook for its Land & Armaments business.
Elsewhere, BAE said the costs resulting from last month’s announcement of a reduction in the UK military aircraft workforce to reflect anticipated changes in the nature of the workload in that sector would not impact the outlook for the year.
For the Group as a whole, a further year of good growth is anticipated for 2008, it said.
It added that it was continuing search for suitable candidates to succeed Mike Turner as chief executive after he retires from the company in August.
