BAE Systems profits rise in 1H2010, debt also up

BAE Systems revenue up 9.2% - financial highlights for the six months ended 30-Jun-2010:

• Revenue: GBP10,643 million, +9.2% year-on-year;
  • Electronics, intelligence and support: GBP2,624 million, -8.3%;
  • Programmes and support: GBP3,035 million, +26.5%;
  • International: GBP2,078 million, +46.8%;
• Underlying EBITDA: GBP1,114 million, +13.9%;
  • Electronics, intelligence and support: GBP296 million, +10.4%;
  • Programmes and support: GBP316 million, +14.1%;
  • International: GBP218 million, +36.3%;
• Operating profit: GBP866 million, +70.8%;
• Order book: GBP43,600 million, -1.6%;
  • Programmes and support: GBP23,700 million, +11.8%;
• Operating cash flow: (GBP185 million), compared with a positive cash flow of GBP448 million in p-c-p;
• Net debt: GBP1,202 million, compared with a net debt of GBP316 million in p-c-p. [more]
  

BAE Systems: "In aggregate, and despite a planned lower level of land vehicle activity, the group continues to expect growth for 2010, based on constant exchange rate assumptions," Company statement. Source: BAE Systems, 29-Jul-2010.