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Wednesday, October 12, 2011

BAE in-line for third quarter

Eurofighter TyphoonDefence giant BAE Systems announced that third quarter trading was in-line with expectations despite serious flood damage at a US electronics facility and continuing pressure on the defence budget across the Atlantic.

The group is assessing the implications of serious flood damage at its Johnson City electronics facility following recent severe weather along the US east coast but this not expected to be material to this year's earnings.

Some near-term disruption to trading is anticipated as the US administration again operates federal budgets under a continuing resolution.

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