Orders roll in for BAE Systems

The standout number in BAE Systems’ (BA.) half-year results, which perhaps best tells the tale of the changed nature of the world since it last reported numbers is the increase in new orders – up 70 per cent, to £18bn, taking its order backlog up to a record high of £52.7bn. 

Of course, some of this was anticipated and is part of longer term programmes – for instance, £4.9bn-worth of contracts providing training and support to the Royal Saudi Airforce and £1.8bn of orders linked to the European MBDA missile systems joint venture, in which BAE Systems has a 37.5 per cent stake.