FILE PHOTO-People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023.
REUTERS/Cheney Orr/File PhotoSummaryCompanies First-half EPS up 17%Sees full-year EPS 10%-12% higher, previous forecast 5%-7%Lifts interim dividend by 11%Shares up 5%LONDON, Aug 2 (Reuters) - Britain's biggest defence company BAE Systems (BAES.L) upgraded its guidance for 2023, forecasting annual earnings growth of 10%-12%, as governments spend more on military equipment in "an increasingly uncertain world".
BAE Systems said its good operational performance plus the demand from its customers, the biggest of which are the United States, Britain, Saudi Arabia and Australia, meant its full-year results would be better than expected across the board.
Shares in BAE Systems jumped 5% in early deals.
For 2023, BAE said earnings per share would grow 10%-12%, compared to the 5%-7% increase it had forecast in February, while it also lifted sales guidance to 5%-7% growth from 3%-5%.
Persons:
Cheney Orr, Charles Woodburn, Woodburn, Hargreaves, Aarin, Sarah Young, Paul Sandle, Kate Holton
Organizations:
BAE Systems, Association of, United States Army, Global, REUTERS, BAE, Thomson
Locations:
Huntsville , Alabama, U.S, United States, Britain, Saudi Arabia, Australia, Russia, Ukraine, Asia, Pacific, Europe, Czech Republic, Poland, Qatar, Christian