BAE Systems maintains full-year guidance

29th Sep 2014 07:33

Despite the on-going, yet limited, disruptions to trading as a result of the 'sequestration' of US federal government expenditures defence contractor BAE Systems maintained its full-year earnings outlook.In its latest interim management statement for the three months ended on 28 September the group added that its order intake for the year up to 23 August was at £7.9bn, with £2.6bn of that originating from non-UK/US markets.The company said it now also expects to incur in a goodwill impairment charge of £70m resulting from the disposal of its 75% stake in BAE Systems Land Systems South Africa to Denel, one of its local rivals in the terrestrial systems space.A further exposure in the region of £30m net of tax has been identified linked to commercial shipbuilding programmes Stateside. Those are in addition to the £12m taken on at the half year stage.-- More to follow --