0823 GMT - BAE Systems reported sales growth across all five segments, with the electronic systems and platforms-and-services units performing particularly well, Matt Dorset, equity analyst at Quilter Cheviot, says. The demand for BAE's products and services is evident, with the order backlog reaching a record high of nearly 80 billion pounds--almost three times its annual sales, he says. The British aerospace and defense manufacturer has substantial exposure to European demand, just as the continent, including the U.K., prepares to step up defense spending, Dorset says. "We continue to see structural tailwinds supporting BAE, driven by increased global defense spending," he writes. Shares are up 0.5% at 13.44 pounds. (cristina.gallardo@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 03:23 ET (08:23 GMT)
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