BAE System Thinks Russia’s Attack On Ukraine Will Put More Emphasis On Defense
Britain’s largest defense organization, BAE System revealed that Russia’s recent attack on Ukraine will put more focus on security. The company had already been making profits from the topic as Australia and Britain are spending more on their militaries.
The company makes fighter jets, combat ships, and submarines. It said that it had reviewed its operations and it was not sure that the impact on its suppliers or supply chains was significant. The company said that they were disappointed that the diplomacy between the countries has failed.
In their results published in 2021, the company has said that it anticipated that it will experience tremendous growth in the coming years in all sectors and cyber intelligence is becoming more popular all over the globe.
The company’s Chief Executive Woodburn said to the media that for different governments defensive security is still a priority as they are interested in investing sovereign capabilities to keep their nations and citizens safe from outside threats.
BAE System said that it did not expect its supply chain to be materially impacted unlike Britain’s Rolls-Royce and French jet engine maker Safran. These companies said they were trying to expand supplies of titanium.
The main customers of the company are Britain, the United States, and Saudi Arabia. BAE said that the company will be seeing further growth in sales and margin expansion in 2022 after they have gained a 13% boost in earnings in 2021 to nearly 2.2 billion pounds or $2.97 billion, which is a bit more than the forecast. He further said that they are all ready for sustained top-line and margin expansion in the upcoming years. The company has predicted sales growth of 2% to 4% in 2022.
The company’s share increased 2.6% in early deals and it became one of the FTSE 100 risers on Thursday.
Glenda Bozeman – Business and Services
Glenda Bozeman writes Business articles for industries that want to see their Google search rankings surge. Her articles have appeared in a number of sites. Her articles focus on enlightening with informative Services sector needs. She holds the degree of Masters in Business and Marketing. Before she started writing, she experimented with various professions: computer programming, assistant marker, and others. But her favorite job is writing that she is now doing full-time.
