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BAE Systems launches 拢500m share buyback as half-year earnings top 拢1bn

The group has also been awarded a £250m MoD contract

The Tempest fighter jet will replace the Typhoon in 2035(Image: BAE)

Global defence, aerospace and security company BAE Systems has launched a £500m share buyback scheme after its half-year earnings topped £1bn.

The group, which has sites across the 海角视频 including in the North West, West Midlands, South West, Yorkshire and the Humber, confirmed its earnings totalled £1.03bn during the six months to June 30, 2021, a rise from £849m which it posted during the same period in 2020.

In a statement issued to the London Stock Exchange, BAE Systems added that it would also raise its interim dividend 5% to 9.9p per share.

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The group also confirmed its sales for the period increased from £9.8bn to £10bn.

The half-year results come as the group announced it had been awarded a £250m contract by the Ministry of Defence to progress the development of Tempest, the replacement fighter jet for the Typhoon.

The programme is being delivered by Team Tempest – combining the expertise of the 海角视频 MOD, BAE Systems, Leonardo 海角视频, MBDA 海角视频 and Rolls-Royce.