BAE Systems, one of the largest employers in the North West of England, has today posted its 2017 final year results. Key highlights were that sales increased by £0.6bn to £19.6bn, largely reflecting currency translation, whilst revenue increased by £0.5bn to £18.3bn.
Reflecting on the Group’s performance, Charles Woodburn, Chief Executive, said: “We delivered a good performance in 2017, consistent with our expectations for the year. We start 2018 with a streamlined organisation and a strong focus on programme execution, technology and enhanced competitiveness, providing a solid foundation for medium term growth.
“With an improving outlook for defence budgets in a number of our markets, we are well placed to generate good returns for shareholders.”
For the Air sector, whose main UK locations are Warton and Samlesbury in Lancashire, 2017 was a bumper year. In December, they were awarded a contract by the Government of the State of Qatar, valued at approximately £5bn, for the supply of 24 Typhoon aircraft and a training and support package.
The year also saw the Typhoon’s capabilities continue to be enhanced with the successful completion of live firings of the Brimstone missile and flight testing for Storm Shadow and Meteor weapons capability enhancements.
Additionally, good progress was made on F-35 production, with aircraft sets passing 10% of the global requirement, as its UK production facilities in Samlesbury, Lancashire ramped up to 82 sets per year
Chris Boardman, Group Managing Director, Air commented: “We made good progress on the production of Typhoon, F-35 and Hawk aircraft throughout 2017 and continue to support all of our customers.
“Securing the contract for 24 Typhoons for the State of Qatar is an important endorsement of Typhoon’s leading capabilities and we remain confident we will sell more.
“The new organisational changes, announced in October, will ensure we remain competitive and deliver for our existing and new customers”.
