BAE says trading in line with expectations

LONDON (Reuters) - BAE Systems (BAES.L) said on Wednesday trading in the first four months of 2008 met expectations, leaving it set for a year of good growth with its large order book providing excellent forward visibility.

Europe's biggest defence contractor said in a statement it had "continued to progress well in the period, building on the strong performance of 2007" and helped by additional U.S. orders worth $800 million (407 million pounds) for mine-protected vehicles.

On Tuesday, a company-sponsored committee said BAE, which denies paying kickbacks to a Saudi prince linked to an arms deal, did not pay sufficient attention to ethical standards in the past.

The committee, chaired by Lord Harry Woolf, was set up last June and followed repeated reports BAE paid about 1 billion pounds over a decade to Prince Bandar bin Sultan in connection with the al-Yamamah deal, under which it sold aircraft and equipment to Saudi Arabia.

BAE, which has denied any wrongdoing, said on Wednesday: "The committee's findings will now be evaluated and acted upon".

BAE has transformed itself in recent years from being a largely British business into a major global defence company.

It is now involved in most major U.S. and British military projects, including the F-35 Joint Strike Fighter, Type 45 destroyer, Astute submarine and mine-resistant ambush-protected (MRAP) vehicles for use in Afghanistan and Iraq.

(Reporting by Dan Lalor; Editing by Quentin Bryar)