Search This Blog

Friday, December 20, 2013

Blow for Britain and BAE Systems as UAE rules out Eurofighter deal

Eurofighter TyphoonDefence contractor BAE Systems has been hit by a double-blow from the Gulf over its Typhoon fighter jet programme, damaging its export ambitions and forcing the company to warn on profits.

In a major reversal, announced after the market closed, BAE said the United Arab Emirates had ended protracted negotiations over a potential order worth up to £6bn for around 60 of the supersonic aircraft – despite the personal intervention of Prime Minister David Cameron.

The defence group also disclosed that, for the third year running, it had failed to agree the price for 72 Typhoons for Saudi Arabia, reducing this year’s forecast earnings per share by “6p-7p” – equivalent to about £250m off operating profits, according to analysts. They had been expecting 43p of earnings.

Read more
om

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.