 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 by Staff Writers London (AFP) Feb 22, 2018
BAE Systems, the British maker of military equipment, announced a drop in annual net profit on Thursday but said it expected government defence spending to remain a priority. Profit after tax dropped 6.5 percent to �854 million ($1.19 billion, 967 million euros) in 2017 compared with a year earlier, with the group hit by a sizeable impairment linked to its cyber security unit, BAE said in an earnings statement. Group revenue meanwhile grew 3.0 percent to �18.32 billion. "With an improving outlook for defence budgets in a number of our markets, we are well placed to generate good returns for shareholders," said chief executive Charles Woodburn. Late last year, BAE said it planned to axe 2,000 jobs, mainly owing to weaker demand for Hawk and Eurofighter Typhoon fighter jets. On Thursday, BAE said that "defence and security remains a priority for the UK government". BAE's share price was down 2.0 percent at 589.40 pence in early deals on London's benchmark FTSE 100 index, which was lower by one percent overall. bcp/spm
Russia's Kalashnikov becomes majority private-owned Moscow (AFP) Feb 15, 2018 Private investors have for the first time gained a majority share of Russia's Kalashnikov arms manufacturer, producer of the famed AK-47 assault rifle, the company said Thursday. Russia's state-run holding company Rostec said in a statement it had reduced its stake from 51 percent to a blocking stake of 25 percent plus one share. It made the sale to Kalashnikov's general director Alexei Krivoruchko, who was already a shareholder in the Kalashnikov concern, and his company. The deal cost "a t ... read more
|
|||||||||||||
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |
del.icio.us
Digg
Reddit
Google
