Defence News – Early November 2023
Estimated reading time 2 minutes
With global tensions rising, defence giant, BAE Systems, has reported a £10bn uplift in orders booked since it announced its half year results in August.
In a trading update today, the group, which operates factories in Warton and Salmesbury, near Preston, building military aircraft, and a submarine building facility in Barrow, said group guidance has been confirmed, in line with the half-year upgrade, when it forecast an increase annual sales of +5 to 7% (2022: £23.256bn), a +6 to 8% increase in underlying earnings before tax, interest and depreciation (2022: £2.479bn), and free cash flow of more than £1.8bn (2022: £1.950bn).
The group employs around 15,000 staff in Lancashire and Cumbria. In December last year the defence giant launched a drive to recruit 2,600 apprentices and graduates across the business.
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A £750m contract has been awarded to international defence company Babcock in the South West.
Babcock International has signed a four-year contract with the UK Ministry of Defence’s (MOD) Submarine Delivery Agency (SDA), to deliver the infrastructure required to support and sustain the UK’s submarines for decades to come.
As part of the major infrastructure programme underway at the Devonport site, Babcock will deliver substantial upgrades to existing infrastructure that will support the future capability of the Royal Navy and the UK’s Defence Nuclear Enterprise.
The contract for the delivery of infrastructure to support submarine maintenance includes a dock, logistics and modern support facilities, and underpins the wider role Babcock plays in sustaining the entirety of the UK submarine fleet.
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