The latest focusIR Investor Webinar with speakers from: Pyx Resources, Helix Exploration, Fulcrum Metals and Metals One takes place on Tuesday 23rd July. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBAE Systems Share News (BA.)

Share Price Information for BAE Systems (BA.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,277.50
Bid: 1,276.00
Ask: 1,276.50
Change: 7.50 (0.59%)
Spread: 0.50 (0.039%)
Open: 1,271.00
High: 1,282.50
Low: 1,268.00
Prev. Close: 1,270.00
BA. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Defence firm Saab raises sales outlook after Q1 profit jump

Fri, 26th Apr 2024 07:54

SAAB Q1 operating profit up 28% on the back of strong demand

*

Raises full-year organic growth forecast to 15-20%

*

Geopolitical turmoil, NATO accession drivers behind growth

STOCKHOLM, April 26 (Reuters) - Swedish defence equipment maker Saab reported on Friday a 28% rise in first-quarter operating profit and raised its organic sales growth forecast on the back of strong demand amid Sweden's NATO accession.

Operating profit at the maker of the Gripen fighter jet was 1.19 billion crowns ($109 million), compared with 928 million a year earlier.

"We are doing very well in the market," CEO Micael Johansson told Reuters. "We have a strong order intake, a lot of medium and small orders that are increasing, which is great as a basis for the company."

Saab raised its organic sales growth forecast for 2024 to 15-20% from 12-16% previously.

The company, which competes with U.S. defence giant Lockheed Martin, France's Dassault and Britain's BAE Systems , has seen strong demand for its products over the past year due to geopolitical turmoil and Sweden's accession to NATO.

Johansson said Sweden's membership meant that the company now was able to participate in the alliance's tender processes.

"We have received at least three orders for support weapons and Robot-70s from that body. We had difficulty accessing that when we were not members," he said.

Saab's support weapons include man-portable anti-tank weapons, while Robot-70 is an air defence system.

Order bookings increased to 18.5 billion crowns in the quarter from 17.0 billion last year. Its order backlog increased to 158 billion crowns from 133 billion.

Saab is in the process of ramping up production to cope with the demand and backlog. It recruited nearly 2,500 employees and increased capital expenditure by more than 50% in 2023, and added another 725 people in the first quarter of this year.

More News
9 Apr 2024 15:12

London close: Stocks slip ahead of ECB, US inflation print

(Sharecast News) - London markets closed lower on Tuesday, as investors braced for a key US inflation reading as well as a policy announcement from the European Central Bank later in the week.

Read more
9 Apr 2024 13:36

Rheinmetall leads slump after European defence sector's record run

Aerospace and defence index down 3%

*

Read more
9 Apr 2024 08:54

LONDON BROKER RATINGS: Barclays raises Halma to 'overweight'

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
25 Mar 2024 05:51

UK government to unveil GBP200 million nuclear investment

(Alliance News) - Prime Minister Rishi Sunak will on Monday announce GBP200 million of public investment to boost the UK's nuclear deterrent programme and its civil nuclear industry, which the government says will support 40,000 expected new jobs.

Read more
22 Mar 2024 07:40

LONDON BRIEFING: UK retail sales slightly better than expected

(Alliance News) - Stocks in London are called to open slightly lower on Friday, as investors pause for breath after a busy week of interest rate decisions.

Read more
22 Mar 2024 06:45

David Cameron backs "strong partnership" with Australia for stability

(Alliance News) - Foreign Secretary David Cameron has backed closer co-operation with Australia to provide increased security and Commonwealth stability.

Read more
21 Mar 2024 15:05

BAE Systems selected by Australian govt to build nuclear powered submarines

(Sharecast News) - BAE Systems said on Thursday that it and ASC Pty Ltd have been selected by the Australian government to build the country's new fleet of nuclear powered submarines.

Read more
21 Mar 2024 11:39

BAE Systems to build fleet of nuclear-powered submarines for Australia

(Alliance News) - Australia on Thursday said BAE Systems Inc would build its fleet of nuclear-powered submarines, a key step in fulfilling the landmark AUKUS security pact between Canberra, London and Washington.

Read more
20 Mar 2024 18:11

TRADING UPDATES: ReNeuron appoints administrators as rescue talks fail

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
20 Mar 2024 15:02

Director dealings: BAE Systems chair makes share purchase

(Sharecast News) - BAE Systems revealed on Wednesday that chair Cressida Hogg had acquired 13,698 ordinary shares in the FTSE 100-listed weapons manufacturer.

Read more
20 Mar 2024 14:23

IN BRIEF: BAE Systems Chair Cressida Hogg buys GBP180,000 in shares

BAE Systems PLC - London-based defence, aerospace and security company - Chair Cressida Hogg buys 13,698 shares at GBP13.20 each, worth GBP180,779, in London on Tuesday.

Read more
19 Mar 2024 12:26

Cohort looks to future revenue as subsidiary wins GBP15.7 million deal

(Alliance News) - Cohort PLC on Tuesday said that its subsidiary, Chess Dynamics Ltd, has been given a contract to provide surveillance systems for Australia's Hunter class frigates.

Read more
12 Mar 2024 09:29

LONDON BROKER RATINGS: UBS cuts abrdn price target but ups Darktrace's

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
11 Mar 2024 10:03

LONDON BROKER RATINGS: Citi, Macquarie cut Virgin Money to 'neutral'

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
8 Mar 2024 12:56

Citi reinstates 'neutral' rating on BAE Systems

(Sharecast News) - Analysts at Citi reinstated their 'neutral' rating on defence group BAE Systems on Friday, updating its forecasts following the company's acquisition of Ball Aerospace.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.