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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BAE Systems    BA.   GB0002634946

BAE SYSTEMS

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BAE : Pretax Profit Rose in 1st Half, Sees Debt Flat

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07/31/2019 | 02:53am EST

By Carlo Martuscelli

BAE Systems PLC (BA.LN) said Wednesday that half-year pretax profit rose 36% and said it expected net debt to remain largely unchanged in the full-year compared with 2018.

BAE posted a profit before tax of 776 million pounds ($944 million) in the half year, compared with GBP571 million the prior-year period

Underlying earnings per share--the company's preferred metric, which strips out exceptional and other one-off items--rose to 21.9 a share from 19.8 pence in the first half of 2018.

The company's order intake in the period was GBP8.42 billion while its backlog totaled GBP47.4 billion.

BAE said it still expected underlying earnings per share for 2019 to grow by a mid-single-digit percentage--assuming a $1.30 to GBP1 exchange rate. It added that it now sees net debt in 2019 broadly unchanged from the year prior, a result it attributed to a timing mix for its Qatar Typhoon fighter jet program, and the M109A7 program.

The board of the defense company declared an interim dividend of 9.4 pence per share, compared with 9.0 pence the prior year.

Write to Carlo Martuscelli at carlo.martuscelli@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
BAE SYSTEMS -1.11% 572 Delayed Quote.26.00%
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Financials (GBP)
Sales 2019 19 848 M
EBIT 2019 2 081 M
Net income 2019 1 317 M
Debt 2019 934 M
Yield 2019 3,98%
P/E ratio 2019 13,8x
P/E ratio 2020 13,9x
EV / Sales2019 0,98x
EV / Sales2020 0,93x
Capitalization 18 531 M
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Technical analysis trends BAE SYSTEMS
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 605,20  GBp
Last Close Price 578,60  GBp
Spread / Highest target 18,4%
Spread / Average Target 4,60%
Spread / Lowest Target -8,40%
EPS Revisions
Managers
NameTitle
Charles Nicolas Woodburn Group Chief Executive Officer & Director
Roger M. Carr Chairman
Peter John Lynas Group Finance Director & Executive Director
Nigel Whitehead Chief Technology Officer
Steve N. Millward Chief Information Officer
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