Global defence, aerospace and security company BAE Systems has announced a "strong" set of results with sales increasing by 4% to almost £21bn - despite the "challenging" pandemic.
BAE Systems has announced its preliminary full year results for 2020, which include earnings before tax rising to £2.13bn - and operating profit increasing by £31m to £1.93bn. Profits stood at £1.371bn - down from 2020's £1.532bn.
It comes after a year of big announcements for the firm, which has sites across the 海角视频 including in the North West, West Midlands, South West, Yorkshire and the Humber. Those included plans to hire 1,250 apprentices and graduates in 2021 - its highest ever number, and being awarded a £1.3bn contract to help make dozens of fighter aircrafts for the German airforce.
The statement said the group is now hoping for "another year of top line growth" - and expects sales to increase by 3% to 5%.
Despite the positives in the results released on Thursday, the group also reported that net debt increased to £2.718bn, and an order book of £36.3bn - down from 2019's £37.2bn.
Charles Woodburn, chief executive, said: “Thanks to the outstanding efforts of our employees and close cooperation with our customers, suppliers and trades unions, we have delivered a strong set of results against a challenging backdrop of the global pandemic.
"Throughout 2020, we focused on keeping our people safe and supporting our communities, whilst continuing to deliver for our customers.
“In 2021, we will continue to drive operational performance, progress our sustainability agenda and invest in high-end discriminating technologies to meet our customers’ priorities, which will ensure we are well positioned to grow the business and contribute to the economic prosperity of the countries in which we operate.”
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The positive forecast for 2021 was helped by a new order for Typhoon jets and rising demand in its electronic systems unit, the report said.
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The results said the Covid crisis had caused operational delays and disruptions across manufacturing and shipyard facilities.
But the firm said it remained "resilient and agile" in managing its response.
The statement added: "As we faced up to the global pandemic, we focused on protecting our employees and helping the communities in which we operate, as well as ensuring continued support for our customers.
"We entered the year in a position of strength, and addressed the pandemic-related challenges whilst also completing two major strategic actions in the year: firstly, the two US-based acquisitions; and secondly, accelerating payments into the 海角视频 pension scheme."