Strong start to year for BAE Systems

The Typhoon production line at Warton
The Typhoon production line at Warton

Defence giant BAE Systems has reported a strong start to the year in its half-yearly financial results.

The group reported an operating profit of £896m to June 30 2019, up from £792m in the same period last year.

An image of Tempest, the successor to Typhoon

An image of Tempest, the successor to Typhoon

The group, which has sites at Warton and Samlesbury and makes the Eurofighter Typhoon and Hawk, reported revenue of £8,674m.

Charles Woodburn, Chief Executive, said: “The first half performance underpins our guidance for the full year with improvements being made on a number of operational fronts.

"Our priority is to deliver consistent and strong operational performance for our customers and shareholders to enable us to meet our growth expectations over the medium term.”

Around 10,000 people are employed by BAE Systems in Lancashire.

BAE Systems Air is already planning with its partners for the successor to the Typhoon, known as Tempest.

The next phase of the Tempest programme has been contracted between industry and the UK Government.

The Memorandum of Understanding signed in July between the UK and Sweden, committed both governments to work on a joint combat air development and acquisition programme.

*For more see Tuesday's Lancashire Post business supplement