Return to profit for BAE Systems
29th July 2010
DEFENCE giant manufacturer BAE Systems said it had returned to profit during the first half, but warned of "challenging trading" ahead as governments axe spending.
BAE Systems, which has a plant at Brough, net profits of £618m in the six months to June 30, compared with a loss of £82m last year, when it reported huge impairment charges on its acquisition of US company Armor Holdings
Turnover at the company was was up 9.3% to £10.6bn from £9.7bn last time.
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