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Defence News – Late February 2024

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Defence group, BAE Systems, reported increased sales and profits for the year to December 31, 2023, as global security tensions remain high.

The group operates factories in Warton and Salmesbury, near Preston, building military aircraft, as well as a submarine building facility in Barrow, and employs around 15,000 staff in the region.

Turnover for the year was £23.078bn, up from £21.258bn, while pre-tax profits of £1.940bn were compared with £1.674bn. The group has raised its dividend per share by 11% to 30p per share, reflecting the strength of the annual figures.

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The next stage of the New Medium Helicopter (NMH) Programme has been announced by the Minister for Defence Procurement, James Cartlidge, today.

The NMH Programme is an initiative to acquire a modern medium-lift support helicopter, which will deliver up to five rotary wing requirements using a single aircraft-type. This means that the platform will be able to undertake Defence tasks that were previously undertaken by up to five different aircraft types, streamlining our capabilities. This will improve efficiency and operational flexibility, positively impacting ongoing and future UK operational capability.

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