Aerospace and defence manufacturing company BAE Systems has reported a solid 2013 financial result but has warned it is expecting a drop in profits as pressure on US government spending continues.
The comapny recorded a 3% increase in earnings before interest, tax, and amortisation (EBITA) to £1.9bn and underlying earnings increased by 9% to £0.42 per share. BAE Systems only recently finally settled the pricing of a deal to sell 72 Eurofighter jets to Saudi Arabia, which was originally agreed in 2007. The conclusion to the negotiations mean…
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