In a short update, BAE Systems confirmed that trading so far in the second half has been in line with group expectations.
The company has secured more than £27bn of orders so far in 2025, and further agreements are expected before year-end.
Recently upgraded full-year guidance was reiterated, with sales and underlying operating profits expected to grow by 8-10% and 9-11% respectively. Free cash flow guidance remains at more than £1.1bn (consensus: £1.5bn).
Around £1.5bn is expected to be returned to shareholders through dividends and share buybacks this year.
The shares were broadly flat in early trading.
Our view
HL view to follow.
BAE Systems key facts
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