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BAE Systems sees growth in 2021 after annual profit falls on higher costs

By BFN News | 08:08 AM | Thursday 25 February, 2021


Defence company BAE Systems touted profit growth for 2021 after reporting a fall in annual profit as higher costs offset a climb in revenue. For the year ended 31 December, pre-tax profit fell to £1.60 billion from £1.63 million year-on-year, while revenue increased 5.5% to £19.28 billion. The 2019 final dividend suspended at the start of the year when the impact of the pandemic was unclear and raised the payment for 2020 by 2% to 23.7p. The company declared a final dividend of 14.3p per share, taking the total dividend for the year to 37.5p per share, which included an interim dividend of 13.8p per share, which was originally proposed as a 2019 final dividend, but subsequently deferred in the light of the COVID-19 pandemic. For 2021, BAE expects to grow sales at between 3-to-5% with underlying EBITDA forecast to rise in range of 6% to 8%. At 8:08am: (LON:BA.) Bae Systems PLC share price was 0p at 471.2p Story provided by StockMarketWire.com

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