Charles Woodburn

BAE profit jumps defense spending boosted

Published by Hurriyet on Thu, 08/03/2023 - 06:00

British military equipment maker BAE Systems yesterday announced a 57 percent jump in net profits for the first half of this year as government defense spending increases amid the war in Ukraine.

Profit after tax increased to 965 million pounds ($1.2 billion) in the six months to the end of June compared with 615 million pounds in the first half of last year, BAE said in a statement.