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BAE Systems Says 2019 Guidance Remains Unchanged

BAE Systems Plc. (BA.L) said that its guidance for 2019 remains unchanged from the 2019 interim results. It expects the Group's underlying earnings per share, excluding the one-off tax benefit, to grow by mid-single digit percent compared to the full year underlying earnings per share in 2018 of 42.9 pence.

The Group continues to target in excess of 3 billion pounds of free cash flow over the three-year period 2019-2021, and expects 2019 net debt to be broadly unchanged from the net debt at 31 December 2018.

The Interim dividend of 9.4 pence per share will be paid on 2 December 2019.

The company noted that Roger Carr will have served as Chairman of the Board for six years, effective from 1 February next year. It has been agreed that he will serve a final term of just over three years from that date, and in keeping with current corporate governance best practice will retire following the conclusion of the Company's Annual General Meeting in May 2023.

Harriet Green retires from the Board with effect from today.

As previously indicated, Peter Lynas Group Finance Director will retire from the Company on 31 March 2020 and the Company has appointed Brad Greve as Group Finance Director Designate to succeed Peter Lynas and join the BAE Systems plc Board on 1 April 2020.

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