July 31, 2019 / 6:57 AM / 3 months ago

BAE Systems reports 9% rise in first half earnings

FILE PHOTO: Trade visitors walk past an advertisement for BAE Systems at Farnborough International Airshow in Farnborough, Britain, July 17, 2018. REUTERS/Toby Melville

LONDON (Reuters) - BAE Systems (BAES.L), Britain’s biggest defense company, said operational improvements in its first half drove a 9% rise in core earnings to 999 million pounds ($1.21 billion), underpinning its guidance for the full year.

The maker of Typhoon fighters, combat vehicles and Astute Class nuclear-powered attack submarines, stuck to its full-year earnings per share forecast of a mid-single digit rise on the 42.9 pence reported in 2018, assuming a $1.30 to sterling exchange rate, as the better operational performance helped offset restructuring charges.

(This story corrects earnings forecast to add mid-single digit rise)

Reporting by Paul Sandle; editing by Guy Faulconbridge

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