LONDON (Reuters) -BAE Systems, Britain’s biggest defence company, posted a 9.5% rise in annual earnings and forecast more growth this year as military spend continues to rise on the eve of the first anniversary of Russia’s invasion of Ukraine.
Underlying earnings per share on a constant currency basis came in at 55.5 pence for 2022, BAE said on Thursday, beating a consensus forecast of 53.9 pence. BAE had in November upgraded its guidance citing very strong orders.
For 2023, BAE, which makes submarines, fighter jets, military ships and combat vehicles, said earnings per share would rise by 5% to 7%.
The company also lifted its annual dividend by 7.6%, citing confidence in long-term growth.
The Ukraine war has boosted defence spending globally, and BAE is benefiting from higher demand from its major customers, the United States, Britain, Saudi Arabia and Australia.
(Reporting by Sarah Young; editing by William James)
