Advertisement
UK markets close in 4 hours 27 minutes

  • FTSE 100

    8,225.26
    -37.49 (-0.45%)
     

  • FTSE 250

    20,701.38
    -199.11 (-0.95%)
     

  • AIM

    800.98
    -4.18 (-0.52%)
     

  • GBP/EUR

    1.1735
    -0.0003 (-0.03%)
     

  • GBP/USD

    1.2752
    -0.0053 (-0.41%)
     

  • Bitcoin GBP

    53,989.88
    -23.70 (-0.04%)
     

  • CMC Crypto 200

    1,444.05
    -3.10 (-0.21%)
     

  • S&P 500

    5,283.40
    +5.89 (+0.11%)
     

  • DOW

    38,571.03
    -115.27 (-0.30%)
     

  • CRUDE OIL

    72.78
    -1.44 (-1.94%)
     

  • GOLD FUTURES

    2,349.70
    -19.60 (-0.83%)
     

  • NIKKEI 225

    38,837.46
    -85.54 (-0.22%)
     

  • HANG SENG

    18,444.11
    +41.11 (+0.22%)
     

  • DAX

    18,389.22
    -218.94 (-1.18%)
     

  • CAC 40

    7,929.63
    -68.39 (-0.86%)
     
Pensions:

The future of life time allowance

How Labour and Conservative policies will impact pension planning

BAE Systems sees earnings up 5-10 pct on increased defence spending

Reuters - UK Focus

LONDON, Feb 23 (Reuters) - Britain's BAE Systems (LSE: BA.L - news) said it expected increased defence budgets to boost its earnings by 5-10 percent this year after it met market expectations with a 7 percent rise in 2016.

The company reported underlying earnings per share of 40.3 pence on sales up 1.1 billion pounds to 19 billion pounds ($23.6 billion), with the better-than-expected rise mainly coming from foreign exchange benefits.

Chief Executive Ian King, who will retire at the end of June, said 2016 was a good year for BAE Systems.

"With (Other OTC: WWTH - news) an improved outlook for defence budgets in a number of our markets, we are well placed to continue to generate attractive returns for shareholders," he said on Thursday.

($1 = 0.8043 pounds) (Reporting by Paul Sandle; editing by Kate Holton)