Overview

• BAE Systems upgraded its full-year sales growth forecast to 8–10% and its underlying pre-tax earnings outlook to 9–11%.
• First-half sales climbed 11% year on year to £14.6 billion with underlying EBIT up 13% at £1.6 billion.
• Order intake fell to £13.2 billion from £15.1 billion a year earlier while overall backlog remained elevated.
• Shares slid roughly 2–3% in midweek trading despite the guidance upgrade, helping push the FTSE 100 to a record 9,000.
• The company plans to hire thousands more staff and expand facilities in South Wales, Glasgow and Florida to meet rising defence demand.