Profits fall slightly but orders are increasing for BAE Systems

Picture: Paul Jacobs (142476-229) PPP-140824-032155001

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BAE SYSTEMS has reported an order book that is swelling for the first time since 2009, according to its half year results, published today.

Its order books stand at £40bn across the whole of BAE’s world wide businesses.

But the results also showed its profits have fallen slightly to £478m from the £500m from the same period last year.

In Portsmouth, BAE Systems’ Maritime arm highlighted the work it has been doing on the two Queen Elizabeth class aircraft carriers, as well as its work in building ships for navies around the world.

Andrew Davies, managing director of BAE Systems’ Maritime business, said: ‘This is an incredibly busy year for our maritime business and we are making excellent progress across our programmes. HMS Queen Elizabeth is really taking shape in the dock at Rosyth, and demonstrates the teamwork across the Aircraft Carrier Alliance.

‘Meanwhile, we are continuing to grow our services business here in Portsmouth and the Type 45 programme has moved into an important phase, with our team supporting the first four ships, which are now in operational service with the Royal Navy and an intensive programme of sea trials for [HMS] Defender as the newest addition to fleet.’