Last checked at 18 Jul 2019 07:00
RNS Number : 9017F
BAE SYSTEMS PLC
18 July 2019
18 July 2019
BAE Systems plc - Tax provisions
BAE Systems announces that following agreements reached in respect of overseas tax matters a one off non-cash benefit has been recognised to 2019 earnings per share. In addition, following review of April's EU Commission's decision that concluded the UK's Controlled Foreign Company regime partially represents State Aid, the Group has recognised a provision for the estimated exposure.
As a result of the above, a net earnings per share benefit of circa 5p arises which is additional to the current 2019 underlying earnings per share guidance.
These items are not expected to have a material impact on the underlying tax rate in future years.
Issued by:
BAE Systems plc
London
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.