The FTSE 100-listed defence equipment giant reported increased volumes in F-35, Combat Vehicles and growth in the electronic defence portfolio in its results for the six months ended June 30, 2020, offsetting a shortfall in its commercial business.
Overall sales in the six month period rose by 5% to £9.8bn, BAE said while its profit before tax fell by 11% to £689mln due to disruption from the coronavirus pandemic as previously warned. Net debt at the half-year-end was £2bn.
The group said it expects full-year underlying earnings per share to drop by 1%-5% from last year's 45.8p, with free cash flow at £800mln.
BAE's board has declared an interim dividend of 9.4p per share, is in line with 2019's half-year payout.