BAE holds guidance, sees boost from global tensions

(Sharecast News) - Weapons maker BAE Systems held annual guidance and said global geopolitical tensions should boost orders as countries increased defence spending.

The group still expects sales to rise 10% to 12% above 2023's £25,.3bn and underlying earnings before interest and tax 11% to 13% better than the £2.7bn posted last year.

"Defence spending is high across our sectors and key markets. The recent passing of the US supplemental aid package to Ukraine and the commitment by the UK government to spend 2.5% of GDP by 2030 should build further positive momentum," the company said in a trading update.

Reporting by Frank Prenesti for Sharecast.com