. 24/7 Space News .
MILPLEX
BAE profits fall, counts on government defence spend
by Staff Writers
London (AFP) Feb 22, 2018

BAE Systems, the British maker of military equipment, announced a drop in annual net profit on Thursday but said it expected government defence spending to remain a priority.

Profit after tax dropped 6.5 percent to �854 million ($1.19 billion, 967 million euros) in 2017 compared with a year earlier, with the group hit by a sizeable impairment linked to its cyber security unit, BAE said in an earnings statement.

Group revenue meanwhile grew 3.0 percent to �18.32 billion.

"With an improving outlook for defence budgets in a number of our markets, we are well placed to generate good returns for shareholders," said chief executive Charles Woodburn.

Late last year, BAE said it planned to axe 2,000 jobs, mainly owing to weaker demand for Hawk and Eurofighter Typhoon fighter jets.

On Thursday, BAE said that "defence and security remains a priority for the UK government".

BAE's share price was down 2.0 percent at 589.40 pence in early deals on London's benchmark FTSE 100 index, which was lower by one percent overall.

bcp/spm

BAE SYSTEMS


Related Links
The Military Industrial Complex at SpaceWar.com
Learn about the Superpowers of the 21st Century at SpaceWar.com


Thanks for being there;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Monthly Supporter
$5+ Billed Monthly


paypal only
SpaceDaily Contributor
$5 Billed Once


credit card or paypal


MILPLEX
Russia's Kalashnikov becomes majority private-owned
Moscow (AFP) Feb 15, 2018
Private investors have for the first time gained a majority share of Russia's Kalashnikov arms manufacturer, producer of the famed AK-47 assault rifle, the company said Thursday. Russia's state-run holding company Rostec said in a statement it had reduced its stake from 51 percent to a blocking stake of 25 percent plus one share. It made the sale to Kalashnikov's general director Alexei Krivoruchko, who was already a shareholder in the Kalashnikov concern, and his company. The deal cost "a t ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

MILPLEX
Trump's Privatized ISS 'Not Impossible,' but Would Require 'Renegotiation'

Russian Resupply Ship Delivers Three Tons of Cargo

NASA's Continued Focus on Returning U.S. Human Spaceflight Launches

NASA Acting Administrator's Statement on FY 2019 Budget Proposal

MILPLEX
Launch support contract awarded by 45th Space Wing for Cape Canaveral

140 successful tests and several "firsts" for Vinci, the engine for Ariane 6

Russia launches cargo spacecraft after aborted liftoff

Soyuz launch to resupply ISS aborted seconds before liftoff

MILPLEX
Leaky Atmosphere Linked To Lightweight Planet

Mars Opportunity Rover Energy Levels Improve

A Piece of Mars is Going Home

Danish architect envisions life on Mars

MILPLEX
Long March rockets on ambitious mission in 2018

Chinese taikonauts maintain indomitable spirit in space exploration: senior officer

China launches first shared education satellite

China's first X-ray space telescope put into service after in-orbit tests

MILPLEX
Iridium Certus broadband readies for DOD wsers with COMSAT

Airbus and human spaceflight: from Spacelab to Orion

Iridium Announces First Land-Mobile Service Providers for Iridium Certus

2018 in Space - Progress and Promise

MILPLEX
A new way of generating ultra-short bursts of light

Jordan 3D lab prints limbs for war wounded, disabled kids

Tricking photons leads to first-of-its-kind laser breakthrough

DARPA Seeks to Expand Real-Time Radiological Threat Detection to Include Other Dangers

MILPLEX
Humans will actually react pretty well to news of alien life

Asteroid 'time capsules' may help explain how life started on Earth

Deep-sea fish use hydrothermal vents to incubate eggs

Kepler Scientists Discover Almost 100 New Exoplanets

MILPLEX
New Horizons captures record-breaking images in the Kuiper Belt

Europa and Other Planetary Bodies May Have Extremely Low-Density Surfaces

JUICE ground control gets green light to start development

New Year 2019 offers new horizons at MU69 flyby









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.