Originally posted to the Reuters website, 20 February 2020
LONDON (Reuters) – Britain’s BAE Systems (BAES.L) forecast another year of growth in 2020, saying the company was well-placed to take advantage of increased defence spending that could help to offset any future impact from a German ban on arms exports to Saudi Arabia.
Full-year results announced on Thursday at the upper end of forecasts, helped to drive shares 3.5% higher at 664.6 pence by 0954 GMT.
The maker of Typhoon fighters, combat vehicles and Astute Class nuclear-powered attack submarines, has been affected by a German ban announced in 2019 on exporting arms to Saudi Arabia.
The export ban has put a question mark over a multi-billion pound deal to sell 48 Eurofighter Typhoon jets to Riyadh, built by a BAE-led consortium that also includes MTU Aero Engines (MTXGn.DE) and Airbus (AIR.PA).
Link to the original post : https://www.reuters.com/article/us-bae-systems-results/bae-systems-predicts-2020-growth-despite-saudi-ban-idUSKBN20E0S0
