BAE Systems plc (BA.L) announced that its trading for the year-to-date period has been consistent with management expectations at the time of the 2012 results announcement. The Group's outlook remains unchanged.
BAE Systems expects modest growth in underlying earnings per share for 2013, subject to the continued uncertainties relating to US defence budgets. This excludes the benefit from the share repurchase programme initiated in February 2013. In addition, and assuming a satisfactory conclusion to discussions with the Kingdom of Saudi Arabia relating to the formalisation of price escalation on the Salam Typhoon programme, there would be a further increase of around 3 pence in underlying earnings per share, the Group said.
BAE Systems noted that the outlook does not reflect the impacts on US defence spending arising from Sequestration.
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