UK defence company BAE Systems reports 14% rise in earnings

Reuters

02-19

UK defence company BAE Systems reports 14% rise in earnings

LONDON, Feb 19 (Reuters) - BAE Systems BAES.L, Britain's biggest defence company, reported a 14% rise in full-year earnings to 3.02 billion pounds ($3.81 billion on revenue of 28.34 billion pounds, also up 14%, reflecting strong demand from its customers.

"Based on the exceptional visibility of our record order backlog and sustainability of our value-compounding business model, we remain confident in the positive momentum of our business into the future," Chief Executive Charles Woodburn said.

($1 = 0.7925 pounds)

(Reporting by Paul Sandle; Editing by Kate Holton)

((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))

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